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Buy nowI own a business that use to be a segment of a combined business. The I have owned QB PRO since early 2000's and accounts were transfered manually by the old bookeeper from Businessworks. As the main business segment died and we stopped renting office space and now own a successful in home bizz. Many assets that are long gone on the balance sheet became place holders with no info on how the offset accounts were made That info is gone and some still shows on the books. The QB pro has been updated 3 times, my bookeeper is a pro advisor as was the earlier one. The CPA has moved and does stuff remotely but knows little about quickbooks My business is a communications Tower c.o. and is unique with leases These professionals have shied away from dealing with this. I need to get the books clean. I have old machinery& equipment accounts, leasehold improvements, accumulated depreciation, Furniture that was donated when we left the leased property, and basically I believe some accounts were used as catch alls , but pre 2003! Should I rebuild the books or work on figuring corrections? I am looking to find out options on where to go. Is there a way to trash the accounts that were part of the old business @ contra accounts? Any direction would be appreciated
It's best to create a new company file, Propjob.
You have the option to create multiple company files in QuickBooks Desktop. This way, we can get rid of those old accounts and start over. You can follow these steps:
You can read this article for more details: Create a QuickBooks Desktop company file.
We can just import the other important details from the old company file to the new one. Here's the article for your reference about importing and exporting data in QuickBooks Desktop.
Comment below if you need clarifications.
That is kind of what i was thinking, Probably when we close books would be a good time. The P&L looks pretty good but the balance sheet has the cling ons. I'll manually do one in excel and that way I can test it prior to reconstruct. Thanks
Prop
@Propjob ,
I am agreed to create a new company file as the fresh start for your bookeeper. Utilize the trial period of 3rd party migration tool to speed up the process.
https://transactionpro.grsm.io/qbd
Good Luck!
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