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Transferring from Simply Accounting to Wave

GerwaldGerwald Member Posts: 8

I need to transfer the accounting of a small business from Simply Accounting to Wave. Can I transfer the accounts from the Trial Balance at end of year in Simply Accounting to a new Chart of Accounts in Wave, then what?

edited March 31, 2021 in Using Wave

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  • UnknownUnknown
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  • GerwaldGerwald Member Posts: 8

    I have transferred the Trial Balance, I think successfully, as everything seems to be balancing. I will now try & enter new year company data directly into Wave and see what happens.

  • MikegMikeg Member Posts: 995 ✭✭✭

    @Gerwald,
    You would normally just enter an opening balance sheet from the point where you want to start from. So let's say for example you want to do the accounting for your small business for all of 2019 in Wave. You would enter as a journal entry 12/31/2018 the balance sheet from your business. Then start with the day to day transactions in 2019. A trial balance contains all of the balance sheet and income statement items. You can do that as well. Just be sure no transactions are being recorded on a date before the trial balance date.

  • GerwaldGerwald Member Posts: 8

    @Mikeg,
    Thank you for your comments.

  • EmmaPEmmaP Member Posts: 639 ✭✭✭

    Thanks @Mikeg! :)

    Hi @Gerwald! Welcome to Wave - I hope everything is going smoothly! This Wave guide has lots of great information if you are just getting started - How to move data to Wave.

    edited February 28, 2020
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