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-   -   Playing "Catch-Up" (http://forums.quickbooksusers.com/showthread.php?t=67421)

caitlin 05-18-2017 01:07 PM

Playing "Catch-Up"
Hi all --

New to this forum, and new to QB and bookkeeping. I just started working for a small business and the finances are a mess. They were using QB, then whoever was doing the books stopped, so there are no entries -- for all of 2016. Instead, they've been using a spreadsheet that is absolutely insane to understand and keep straight.

So, my question is: Would it be crazy to try to enter 2017 data so I don't go nuts now with this spreadsheet, and then go back to enter 2016 as I can? Or would that screw things up?

Any advice would be much appreciated.


Froid 05-18-2017 05:03 PM

We don't envy you
I imagine you can start with a semi-fresh slate for 2017. Semi-fresh because you might need to enter some transactions to 2016 (A/P posting to '16 period with the subsequent payment coming from '17; A/R invoice to '16 to allow for customer payment in '17, etc.). Depends on accrual or cash basis. Heaven help you if your QB deals with manufacturing or inventory! :eek:

BooksInVA 05-19-2017 09:36 AM

Agreed. For most normal bookkeeping you should be fine to move forward from 2017 and enter 2016 as you wrap your head around the spreadsheet. Once you get the hang of the books the right way, some of the nonsense from 2016 may become a lot more clear.

caitlin 05-22-2017 09:58 AM

Thank you!
Thanks so much for both of your responses.

No inventory involved, thank God, but don't get me started about the various loans out there: not being paid back regularly, and payment amount keeps changing!

I know...you're all JEALOUS!

Thanks again!


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