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Chapter 1. Setting Up Your Company with ... > Choosing/Changing Your Start Date

Choosing/Changing Your Start Date

The start date you choose is not necessarily today's date, but rather the date on which you want to begin tracking information in QuickBooks. When you set up a company in QuickBooks, you need to enter all transactions that have occurred in the company from the start date until today.

The best start date is actually the day before the first day of a complete period; that period can be a year, a month, or a quarter. In other words, if you plan to start entering transactions for your company on January 1, you can set December 31 as your start date. That way, all the ending balances for the previous period (in this case, the previous year) are in place as your beginning balances. Alternatively, if the business you are setting up in QuickBooks is a new business that didn't get started until sometime after January 1, your start date will be the first day that you started doing business.


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