New installations normally have a preexisting chart of account and list of customers. Past account balances can easily be imported. Clients, vendors and inventory can also be imported. Inventory Bill of Materials must be entered by hand.
Past transaction histories can be imported in basic form but certain details stored in your old system may not match those stored in 4th Quarter. In this case you need to decide what information you need and where best to store it in the new 4Q system. Transactions can be imported as general journal entries.
Invoice, purchase orders, and other inventory related forms generally cannot be carried over from the old system into 4th Quarter. The formats differ too widely and the benefits do not justify the effort. It is more effective to retain a copy of the old system and old data for on-line reference if necessary and to begin sales histories anew in the new system.
4th Quarter employees a two-level chart of accounts. All general ledger accounts are assigned a 5 to 11-numeral code that indicates their function, profit center, and department. Each GL account is affiliated with one or more detail GL account identified by an additional 1 to 9 character alphanumeric code. In this manner each detail account can be referenced using a 6 to 20 character code.
Because 4th Quarter's chart of accounts is more flexible than other systems there are alternative ways to map your existing accounts onto those stored in 4Q. Braided Matrix will help you understand the alternatives and work with you to decide on a representation that will most easily accommodate your current data and also provide the greatest room for future expansion.
Yes, 4th Quarter can be used in conjunction with other accounting or data entry systems. This is essentially what is done to support payroll using third party payroll applications. This same method can be adapted to any other accounting system and can enable you to run 4th Quarter in parallel with other systems either for a limited crossover period, or for the longer term.
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