How to Choose a Start Date

An important decision you need to make before you create the data file is what is the appropriate start date--the date on which QuickBooks (QB) begins tracking your company's financial transactions.

If the business is being set up at the same time you begin using QB, then the start date is the date you begin using the program. However, this situation is rare. Most businesses convert to QB from another accounting system. When this is the case, the start date determines what information you need to enter from the previous system. When choosing a start date, consider the following.

• When does your company's fiscal year start?
• How close is today to the end of the fiscal year?
• Is there an accurate balance sheet and income statement for the current fiscal year?
• From how far back in time are you willing to enter historical transactions into your new QB file?
• How many transactions occur during a typical month?
• Will you use QB to track payroll?

If your company will be using the QB payroll feature, consider a start date at the end of a calendar quarter. If it is almost the end of the fiscal year, it is probably better to finish the year using the old accounting system and begin using QB at the beginning of the next fiscal year. Choose the last day of the previous period, instead of the first date of the current period, as the start date (i.e., 12/31/2008 instead of 1/1/2009).