I have been asked by our CPA firm to inquire regarding changing our QuickBooks accounts from a current 'name' to a 'number' system. Aside from re-assigning the SW accounts to hit the correct new QuickBooks accounts, would we run into other unforeseen problems by doing this? Would there be any change in the way the statements would read? Would the change affect the well and company history accounts, etc.? Please advise. (DMIE)

Are they wanting to create a whole new Chart of Accounts for you, or just assign an account number to each named account within your current chart of accounts?

If they just assign an account number to each account, then there shouldn't be any difference at all regarding owner balances, etc. History records would not be affected by this, and the statements are also unaffected as long as the same account is used to report owner JIB balances.

However, if numbers are assigned to the accounts within QuickBooks, the account selection menus available in SherWare will only display the account name, not the account number, so that will be something to be aware of.

Top

Return to Dealing With Accounts