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Transferring Quickbooks to Wave

CroftyCrofty Member Posts: 1

Hello,

I was wondering if I could get some help, please?

If I'm mid-way through my financial year and want to switch from Quickbooks to Wave, should I be running a "Trial Balance Report" for the current year or all dates?

At the end of the year will I only need to run one report on Wave after the transfer?
What's best practice for this?

Also, how are retained earnings handled? Do I have to make an additional account?

Here are the accounts I use from Quickbooks

Much appreciated

edited August 18, 2020 in Find a Wave Pro

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    troympapatroympapa Member Posts: 21

    I would record the balance sheet if last years ending balances with a Dec 31 2019 date. Then you would need to load income and expense for the current year into Wave. Depending on your amount of transactions it may be easier to start this year fresh in wave rather than do a upload.

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