Entering Historical Balances for YTD Comparatives

In order to enter Historical Balances follow the steps below:

1. You may need be move the Initial Balance Date back a year. (i.e. If the Initial Balance Date is January 2001 and you want to enter Historical Balances for 2000 you would need to move the Initial Balance Date back to January 2000.)
   
   
   1. As always when changing the Initial Balance Date it is always a good idea to backup the client data first.
   2. Once the backup is complete click on Setup -> Account -> Initial Balances
      
   3. Double click on the Initial Balance Date
   4. Enter the new Initial Balance Date
   5. Click Ok to accept the new date.
   
   
2. If you moved the Initial Balance Date back a year you will most likely have to enter a new Fiscal Year also.
   
   
   1. Click on Setup -> System -> Calendar Year
   2. Enter the new Fiscal Year, you will then be presented (2) options:
      
      
      • Copy an Existing Year
      • Create a Blank New Year
      
      You would normally select the copy option and use the previous year's figures and make any changes necessary (i.e. FICA limit changed).
      
      
   3. Click on Setup -> Date -> Enter/Change Fiscal Years
   4. Enter a new Fiscal Year End date and click OK to accept the new fiscal year.
   5. Select the Current Reporting Period for the period in which you want to start entering Historical Balances.
   
   
3. You are now ready to start entering.
   
   
   1. Click on Transactions -> Trial Balance Entry
   2. Check to make sure the Journal Date is in the desired period.
   3. Start entering the Trial Balance for the period.
   4. When finished with this period leave this option and change the Current Reporting Period to the next period and go back to step 1 of this section.
   5. Keep entering the periods until you have all the Historical Balances entered.
      
      Note: You must enter the periods in order. If you enter them out of order it will confuse the system.
      
      Note:Just enter your normal Trail Balance figures. The system will automatically figure the net between the periods.