Articles
Overview of Entering Beginning Balances
Introduces the purpose of entering beginning balances and lists the steps for accomplishing this effort.
Step 1 — Preparing Your Data
Reviews essential business operations and data, then explains four checks you need to verify in your previous system to ensure your data is ready to migrate to aACE.
Step 2 — Migrating Transactions from a Previous System
Explains how to migrate transaction data from your previous system to aACE.
Step 3 — Reconciling Transactions
Explains possible sources of beginning balance discrepancies and how to resolve them.
Step 4 — Creating Beginning Balances
Details how to generate a zeroing entry for your accounts, then create a single general journal entry for your beginning balance values.
Step 5 — Reconciling Your Income Statement and Balance Sheet
Summarizes the final step of reconciling your previous system and your aACE system beginning balances using the income statement and balance sheet.