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Post Info TOPIC: New to quickbooks
winkle


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New to quickbooks
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Hi there

I wonder if anyone can help?

I have experience with sage, but am about to start using quickbooks for a client.

I cant seem to work out how to enter Opening Stock, The accountant has the previous years set of accounts and I am wondering what is the best way to record these figures.

Also for any quickbooks users out there....how do they find it compared with sage?

Thanks for reading

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jerohm


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To enter opening stock is exactely the same way in ALL bookkeeping softwares : you should enter an opening balance ;)

I prefere Sage, but I don't know well Quickbooks... But THE ideal software for SME's is SAP Business One :p A bit expensive maybe ^^

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The two principal figures without which no project is possible: the perfection of the circle, the principle of all regular bodies, and the equilateral square. (Fra Luca Pacioli)
Amanda


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Hi,

In QB's you should have a 'Stock' in the Chart of accounts under the current assets, you can then journal it in as an opening balance.

I like QB's but was trained on SAGE originally. I find QB's far more user friendly once you get use to it.

HTH
Amanda

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Amanda
winkle


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Thanks Amanda

I have decided to use my sage as time is an issue and need to crack on with it.....I do think I will be using QB's though, when I have more time to play around with it

Another question if you fon't mind?

I am just starting out on my own, I have two yers expereince doing Company books on sage, sometimes I feel like I have no idea what I am doing!!!

I entered the opening balance for O/Stock on sage for the client I am working for at home, and sage has put the credit in the Suspence Account, what am I supposed to do with that?

I haven't done opening balances before, I have set up before by using journals and it was different because all of the assets etc came from the company director so the balances were shown in his directors loan account

I feel like I am being really slow on this one and that I should know the answer!!

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jerohm


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You said : "I haven't done opening balances before"

Maybe you would have to...

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The two principal figures without which no project is possible: the perfection of the circle, the principle of all regular bodies, and the equilateral square. (Fra Luca Pacioli)
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