Quickbooks 2001 versus 2000

[DCT]

I'm wondering if anyone else has the same predicament or has a solution to the following problem:

We are a Canadian company that deals primarily in $USD. When using Quickbooks 2000 all accounts were left in $CDN until the year end when we adjusted for foreign exchange.

At 8/31/2001 - the company's year end, we decided to use Quickbooks 2001 and take advantage of the foreign exchange feature.

The problem:

I decided to start fresh with the 2001 program, and therefore have left all data up to 8/31/2001 in the Quickbooks 2000 edition (and have recorded all data from 9/1/2001 onwards into the 2001 edition). Is my only hope, entering the 8/31/2001 balances as opening balances in the 2001 edition. Can I import the data so the data is also included in 2001 edition? If I can import somehow, what will happen to my customer and vendor lists which had properties of being in $CDN in 2000 edition and now have properties of being in $USD in 2001 edition.

Any solutions?

[mwieder]

QuickBooks does not allow importing data! What you can do is export via iif creator and import to the new QuickBooks but its not as easy as you would think

[NancysBL]

Safety sake, enter your balances by hand. People want to take the "shortcut" and import - it really is not worth the headache and the possibility that it won't work correctly ( which more often than not happens).

[coliver]

If you have a couple days time I would ship the stuff out of QB 2000 via Excel go find all the help in the program and then import it to 2001. Experiment first using only a copy of your new file. There is nothing like having the history on one file.

If your computer starts slowing down, never ever condense the data. Always buy a faster machine, 'cuz the accounting department is the last one to get new stuff anyway and this may be your only chance. I would suggest the fastest Dell with the flat 17" monitor, so you don't strain your eyes.