Quickbooks Premier for Manufacturing Questions for QB users?

Question

I'm changing computer systems & will be using QB for 2007. My questions is, I'm putting in the customers that have open invoices from 2006, is it better to enter the customers w/an opening balance or put the prior invoices in as their opening balance. If I put the invoices in w/parts that are inventoried, do I need to increase my inventory levels so these invoices can pull from it & not mess up my counts? Also, I have invoices for customers that are finance charge invoices, how would one go about putting this in QB so that the customers account is all current & up to date from their ending balance when I closed the 2006 year out in my old system?

Any other help hints, suggestions, etc. would be greatly appreciated!

Thanks so much for your help & answer!!!

Answer 1

I would enter the invoices, but not pulling form inventory. Make a non inventory part item - change the description so you know what it is. Now you have an actual invoice with the original date that will not effect the current year income - which you can look to if a customer needs information. Take the entire amount of finance charge to any one customer and do an invoice for the lump sum - same thing with the entry date. The entire amount listed under accounts receivable should be accounted for this way - you will not manually enter a figure under accounts receivable, but will let the program do it for you when you enter the invoices. Now there is also a chance that you can import some or all of this information into QB depending on the format.
Look into that - you can also open or form more than one company so you can practice on one and not mess up the final system.