Choosing your QuickBooks start date
One of the most important decisions you will make is what your QuickBooks start date will be. The start date is based on how much historical information you decide to bring over from your existing accounting software into QBO. Let’s take a look at a few examples:
- Example 1: Let’s say a web designer decided to start a business in January. The start date in QuickBooks for this brand-new business would be January 1.
- Example 2: Let’s assume it’s January 2022 and you have decided to bring in data from January 1 through December 31, 2021. Your QuickBooks start date will be December 31, 2021. That way, you can bring over all 2021 balances as of this date, and transactions dated January 1, 2022 and after will be directly entered into QBO.
- Example 3: Let’s assume it’s April 16 and your tax professional has informed you that a shoebox of receipts will no longer be accepted next year and that...
