Solved

Loading historical data - just account balances

Forum|Forum|5 years ago
October 13, 2020
2 replies
0 views

We just purchased QB Enterprise in order to do bookkeeping for a client that has 9 different companies that all consolidate. Can I load the General ledger balances for prior periods en masse, somehow? I do not need detail, we don't have purchasing, payroll, etc, only financial transactions. I only need historical balances for reporting purposes as they are used to seeing their balance sheet with columns for 'current quarter', 'prev quarter', 'last year this quarter', and '12-mo change'. Do I post a journal entry with the balances for each quarter in order to get that reporting capability and do I need to worry about any type of year end for the 2019 data I'm putting in? Help, I'm new at this - we use MS Dynamics GP for our company accounting, but this is a side project we are piecing together. Any help is SO appreciated!

QuickBooks Enterprise Suite

Best answer by mv32

Thanks for posting to the Community, @syell.

Yes, you can load the general ledger balances for prior periods en masse. Also, the date will matter for the detail of your report. You won't need to create a journal entry to get the reporting capability. If you plan to open a monthly reporting, then you can fasten it to monthly. If quarterly, then you can set it quarterly.

You can go to the File menu and then select Utilities. Choose Import and then pick General Journal Entries.

Also, you may need to have a reference if you're going to import general ledger balances from a different program, you can check this article: IIF Overview: import kit, sample files, and headers. The general ledger balances must have to be an IIF (Intuit Interchange Format) file to save it in QuickBooks.

Additionally, you may want to use journal entries to adjust your clients' books and make some minor corrections.

I'm always around here to help if you have more concerns. Stay safe and well!