Preconversion Undeposited Funds
Hi everyone, I have just replaced my 13 year-old data file with a brand new one from July 1st. Can someone please tell me how do I transfer any undeposited funds (cash and cheques not yet ban...
Forum Discussion
Hi eblake,
Wow, 13 years of data, that's seriously impressive! You’ve got two ways to go about sorting this.
Option one: You can re-enter the invoices and payments that haven’t been banked yet. Just keep in mind, these transactions should ideally be dated correctly before the financial year ends, so everything kicks off nicely and clean at the start of the new financial year.
Option two: You can record the opening balances for all your ledger accounts as they are for the beginning of the 2026 financial year, including the undeposited funds. The catch with this option is you won’t be able to use the “prepare bank deposit” feature the usual way, because the payments it relies on won’t exist in the new setup.
Which way you go really depends on what works best for how you use your system!
Regards,
Genreve
