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Enter the Accounting Balances From Your Previous System

Ron Cluff

By Ron Cluff, IT/Security Director

August 2023

It's already August! The days and months seem to go by so quickly. In no time at all we'll be saying the same thing again: “December is already here!” or “I can't believe it's now April!” What you don't want to say is, “It's April, and my accountant needs my financial statements, but the balances aren't correct!”

That's why I'm urging you to start working now, in August 2023, to make sure you're not scrambling to get your QFloors financial statements in order.

In particular, make sure you've adjusted your QFloors accounting balances so that they match the ending balances from your previous system as of some point in time - what we call a General Ledger Conversion, or GL conversion. Too frequently, I talk with customers who haven't done that. When you purchased QFloors and got it up and running in your company, you worked through our Getting Started Checklist. On page 10 of that document is a section titled, “Enter Accounting Balances from Previous System.” We also call that a General Ledger (GL) Conversion. Entering those balances is critical to having correct financial statements in QFloors, so if your company is one of the many who stopped at page 9, you need to go back and finish.

That section points out that if you had a full on-site training, the GL conversion is included in that package (so we'll do it for you!). If you didn't have on-site training, we're happy to do the GL conversion for you at our current rate for accounting services (see Account Balance Beginning Entry / GL Conversion Assistance).

If you had a GL conversion done in the past, you might need it done again if your accountant filed an income tax return and you didn't enter their adjustments in QFloors, and/or didn't close the journal after entering those adjustments.

If you've already done a GL conversion, make sure you follow our End of Period Procedures. If you completed those full procedures last year, we recommend that you do our End of Period Short Procedures monthly or quarterly.

We are genuinely interested in your financial success, and we look forward to helping you along the way as you work on these critical projects!

Ron Cluff

About the Author

Ron Cluff - IT/Security Director

Ron graduated from the University of Utah with a Bachelor's in Accounting. His careful attention to detail coupled with 22 years of working with QFloors ensures that software support and training is comprehensive and effective.