How to adjust all accounts balance after stop using it for two years?

SOLVED

Hi,

we stopped using simply accounting in 2011 since accounting firm took over the bookkeeping and they use caseware. now we want to take it back, however all my data in simply accounting is up to 2010. what i need to do to update my date? I cannot enter opening balance since it is not a new company.

thanks,

  • 0
    verified answer

    Hi SnowRabbit,

    My suggestion in your case is to create a new company file in simply accounting.

    You can pick up a date of transfer and print the trial balance report, which has the balance of all your accounts as of that day.

    If the chart of account you are currenty using in caseware is the same as you did back to 2010 and you still have the 2010 smiply accounting data available, you can go to File, Import/Export, Export Records to export the chart of account in .txt file.  Then, you can import it back to your new company data. 

    If you need to create a .csv file for importing, you can get the format for importing chart of account from the link below:

    Exporting and importing accounts data using CSV format

    After importing, since you are still under historical mode, you will be able to use the trial balance report for imputting the opening balance of each of the account.

    For other record export and import, you can go to our knowledge base at support.na.sage.com and search for export and import.

    Hope this helps.

     

  • 0 in reply to Keith L

    Hi Keith,

    Your suggestion is very helpful. I got a trial balance for year end December 31,2012 from accounting firm. I have few other questions regarding this issue:

    1. many accounts in my 2010 simply accounting are inactive now, should I delete them or modify the csv file so they won't be imported. also, can these account numbers be assigned as accounts different from before?

    2.can I set the fiscal year as 1/1/2013-12/31/2013 and just enter balance sheet data balances since all data on 2012 income statements will be set up as 0 once I turn to year 2013.

    thanks

  • 0 in reply to snowrabbit

    Hi Snowrabbit,

    1. You do not need to include accounts that you no longer use in the import file.  You can also adjust the account number in the import file before you import to the new company data.  Please keep in mind that once the GL account is created or imported into the file, you can no longer change it.

    2. You can do that as the balance as of 12/31/2012 should be the same as of 1/1/2013.  One thing you will need to pay attention is that you will have to look at the Current Earnings balance of 2012, which is the surplus or loss from the income statment of the whole year.  The opening balance of your Retained Earnings - Previous year as of 1/1/2013 should be the sum of the Retained Earnings - Previous year and Current Earnings as of 12/31/2012.

    Hope this helps

     

  • 0 in reply to Keith L

    Hi Keith,

    I followed the link you sent me -  Exporting and importing accounts data using CSV format.

    Instead of export list- accounts, I choose list- chart of accounts, also select all years listed. (from 2006-2013). then I use excel to open the CSV to modify the accounts. I only modified the accounts in 2013, should I modify all previous years?

    I manually added version number: 20101, country code: 1, accounts , then i tried to import to new company, error:

    error importing records. the import file does not contain a compatible country code.

    is it possible for me to send you the csv to see what is wrong?

    thanks

  • 0 in reply to snowrabbit

    Hi Snowrabbit,

    Since you are using simply accounting 2011,  as per the KB article I gave you, the version number is 18001, not 20101, which is for Sage 50 2013.

    For country code, please refer the the following list:

    • Canada Country Code = 1
    • USA Country Code = 2
    • French Country Code = 3
    • Australia Country Code = 5
    • International Country Code = 7

    If your country is not Canada but others, please follow the list above. 

    If you still unable to import, please double confirm the format of your import file with the article I gave you.  Again, you can find the link below:

    Exporting and importing accounts data using CSV format with Sage 50-Canadian Edition

    If you really need someone to test your import file and do the import job, you can also contact our partners from the link below:

    http://na.sage.com/sage-50-accounting-ca/support/find-a-consultant

    Hope this helps