Hello! I am trying to set up accounts for the first time. I primarily need to track stock & sales. Is the first step to start in history mode and enter opening balances for the accounts? I
We generally give people converting over the following advice:
- Run a Trial Balance on your existing accounting software.
- Enter all your currently outstanding invoices and bills into bullet (only the ones with payment due – not the paid ones).
- Take a look at the Trial Balance on Bullet.
- Figure out the difference between the original trial balance you got from your old software and the trial balance in Bullet.
- Enter these differences as a big manual journal entry.
After the above, your trial balance on Bullet should be the same as on your old software, and you’re all ready to go.