Migrate accounting software mid year


Joined
Dec 16, 2021
Messages
2
Reaction score
0
Country
Belgium
Hi,
I am tasked in migrating accounting for an administration from an old system that has been used until mid 2021 to a new system (Exact Online). From the old system I only have pdf's as we were working with an external accountant in the past.
I had closing balance sheet on 12/31/20 but also a trial balance sheet from 7/05/2021 along with income statement at that point in time. My question is, do I better use the closing balance sheet from 12/31/20 as a starting point and try to mimic the bookings that had been done for 2021 in the old system, or could I use the trial balance sheet from mid 2021 as the opening balance sheet in the new software. If the latter works, how can I also get the balances of the income statement accounts in line with the balances on 7/05/2021. For the opening balance sheet I can just enter the right balances for each account but this does not work for the income statement, against what can I debit/credit those 6... and 7... accounts? Any tips are welcome.
 
Ad

Advertisements

kirby

VIP Member
Joined
May 12, 2011
Messages
2,250
Reaction score
304
Country
United States
The person who holds the answer to your problem is the former external
accountant. Contact that person and ask for the transactions they posted thru mid 2021. That data should belong to your client as it was already paid for.
 

Ask a Question

Want to reply to this thread or ask your own question?

You'll need to choose a username for the site, which only take a couple of moments. After that, you can post your question and our members will help you out.

Ask a Question

Top