Sage 50 Accounting - U.S. Edition

[boblink]

Hello again guru and thank you again for ALL your help! 

I am probably not going to attempt to do this until the weekend but was thinking, may be their might be another option.
As I mentioned, I have a HARD COPY that I am using to reconstruct "the books" from 2005 to date and I have no accounting background nor experience with Peachtree First Accounting .
What I did was enter the 2005 General Ledger entries (about 50 transactions) and then "closed the books" for 2005, 2006, 2007, 2008 figuring that I will go back and enter the corresponding data at another time only to discover that I CAN'T just re-open the previous years books when I want to.
So my question is, since their is NO DATA for 2006, 2007, 2008 and 2009, can I DELETE these years (which will leave me with 2005) and the enter the data for 2006, 2007, 2008 and 2009 one year at a time until I am current?
This makes more sense than to "fix" each year as you outlined in the previous POST but not being an accountant, I don't know if this is possible and if it is, how to DELETE/ERASE a year in the Peachtree program?

Thank you agian for ALL your help guru,

Bob

[boblink]

Thank you for your help guru, I appreciate the "hand holding" and hope that I am able to resurrect "the books" from the Hardcopy printout that I have.

Bob

[pguru · Accepted solution]

Open you Company, and enter a test or sample current two line General Journal Entry with a current period date (Tasks - General Journal). 

Next click on FILE and then Select Import/Export > General Ledger and click on General Journal.  Now click on the Export Icon and on the FILTER Tab, select the date range for your sample General Journal Entry entered above.  Next, click on the OPTIONS Tab, and note the default export file path or location and file name (click on the black triangluar button to the left to change the file name and or file location).  Back on the Options Tab, place a Check Mark on the option "Include Column Headers".  Now click OK to allow your sample General Journal Entry to be exported.

Open the exported CSV formated file using the likes of Excel.  Use this file format as a template for your data import.  Change the GL posting date to the desired month, day and year; add an appropriate Reference i.e. JE01, enter the total number of lines equal to the total number of import lines.  

Below is a list of the required columns.  Be sure that your CSV format file for import lists the data columns in the same order as listed in the Peachtree General Journal Import Entries.  You can choose to rearrange either the CSV file column order to match the Peachtree column order or the reverse.

Import one General Journal Entry for each respective accounting period by using a posting date that corresponds. 

As stated previously, backup your data before attempting to import any data.

 

[boblink]

I appreciate your help guru, I am re-creating "the books" so I know what I need for each year but am new to First Accounting so I did not enter all the data that I wanted to and now want to go back to fix the errors. Is their a place where I can read about what I need to do to create these General Journal imports?

Thanks,

Bob

[pguru]

As a general statement, you do not want to allow any changes to be entered into a closed year.  Your financials are used to file and support your Federal Tax return, so any changes to those statements would require you to file an amended Tax Return. 

You should confer with your Tax Advisor / CPA with regards to the desired changes as to do so would cause you to have to re-state all filings and related concerns for the periods changed i.e. 2005, 2006, 2007, 2008.

If such changes are still required and are justified, you can effect these changes via General Journal imports bearing the correct posting date i.e. 12/31/2005 or as advised.  Please create one or more data backups before attempting to import any changes.

[boblink]

Hi, I am new to accounting / bookkeeping as well as to First Accounting and have made entries in the General Ledger for years 2005, 2006, 2007, 2008 and 2009 (Peachtree currently has me in 2009).  I would like to make an adjustment / change / addition, to year 2005 but when I enter data in the GL, Peachtree advises me  "5/1/05 is not a ValidDate for this period".

It appears that Peachtree only opens 2 years at a time, so my question is, does this mean that the latest 2 years are opened and once a year is "closed" it can no longer bere-opened (i.e. Peachtree does it allow for a previous year bere-opened)?
My objective is to make CHANGES to GL entries for a previous year that is no longer open (year 2005) and would appreciate HELP asto the best way to make a change to a "closed" year in Peachtree First Accounting 2010?

Thank you in advance, I appreciate ALL the help that I can get,

Bob