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Conversion - Back date records

Started by Nisanka Prasad -   in Accounting

I have started the operation new hotel in 2016,Since that I didn't use any accounting soft ware, Now i have 2017 opening balances so, Can I start to update previous year records now ?

Also I want to know whether I can enter 2017 & 2018 records in same time for both year ?

My financial period will ended in March 31.
Hi Nisanka,
Yes, you can update any date you like - if you have used conversion balances you need to ensure these are correct, otherwise if you were to amend the conversion balances at a later date then that's going to wipe the balances and overwrite.
There's no 'year end closure' on Xero.

Sam King  

Thank you Sam for your informations

Nisanka Prasad  

Now I am going to update 2017/2018 opening balances after that I will start to enter the transaction for the year. Can I enter different months in same time ?. Also Can I enter 2018/2019 bills & invoices same time ?then i can take system up to date.

Nisanka Prasad  

Hi Nisanka, you can import invoice and bills by entering data into our CSV template file and importing to your org.
When entering transaction in the org, you'll be able to select the date of the transaction. So, you can enter these at any time, with the correct date selected. This'll be the date it's reported for in the org.
Just come into our team at Support if you're after a bit more help here. With more detail of what data you're trying to enter they'll be able to best advice on how to go about entering this info in the org.

Kelly M (Community Manager)