I am starting to use PCLaw partway through the fiscal year. What figures should I enter into PCLaw for the General Ledger?
If you want the Income Statement and Balance Sheet to reflect the whole year, then use the G/L Opening Balances function to enter the year-to-date trial balance figures from your former accounting system. However, be aware that the Income Statement for the first month will include year-to-date figures.
Related Questions
- If I am not using an accounting package at this point (or using a TelPay for Business™ export file), what should I enter for General Ledger Account Numbers in System Administration?
- I am starting to use PCLaw partway through the fiscal year. What figures should I enter into PCLaw for the General Ledger?
- Who will see the figures I enter and will they be kept confidential?