Quickbooks Accounting Question?

Question

I am in the process of finishing my bookwork for my year that ended in July on Quickbooks. I am waiting on some paperwork from my bank before I can finish it and give it to my accountant. I would likt to start entering all my bookwork from August into Quickbooks. Can I do this or do I have to wait to get the corrected information back from my accountant before I can start entering in the current year information? I don't want to proceed with the current year and lose everything after I upload my accountant's corrections for the previous year.

Answer 1

You should wait. You accountant may need to make changes to the last fiscal year data. What you can do though is to enter August data before you send the whole thing to the accountant (my accountant, in fact, usually asks me to enter some data after the end of fiscal year before I send my data to him). This way, even if they do change your last fiscal year data, August data will still be there and won't have to be re-entered.

Answer 2

If the accountant is revising the backup and sending it to you to use then you need to wait to enter the August information. What the accountant sends back to you will overwrite what you have.

If the accountant is simply providing additional information for you to enter into quickbooks then you can enter the August information.

Hope that helps.l

Answer 3

You have to wait to close before entering new August information in. Some of the info "rolls-over."

Answer 4

It really depends on if your accountant is making changes to your working file or if he is using an accountants' copy. If the former, you should wait or you'll have to enter it all again. If the later, his changes will be added to your existing data.

Answer 5

I think you have to wait... My book keeper was explaining this to me last week, we had the same problem...