Office Assistant Chart of Accounts Help

by Lori
(NY)

Office Assistant Chart of Accounts Help

Office Assistant Chart of Accounts Help

A friend is using QuickBooks (QB), she sent me 5 months of bills to put into QB. She told me to put them all in using the date that I was doing it and put them all in as one chart of account Expense. I had asked her questions at the beginning but followed her advice.

I have gone through and changed the chart of accounts for each bill to reflect the cost of good appropriate category. Is it needed for me to go through and put the actual date of bill?

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Dec 12, 2017
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starstarstarstarstar 		Chart of Accounts Transactions Date
by: Stephanie

Thank you for your questions about which date should be used when entering old transactions into the Chart of Accounts all at one time.

The best was is to enter each transaction by actual date for audit purposes as well as for financial reporting.

However, this is not a necessity as long as all expenses and income are being accounted for and everything is still able to be tracked if there was ever an audit.

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