Is it better to convert summarized GL transactions, each individual transaction, or can just trial balance information be imported?
There is no better or worse. The ease at which the data is pulled from the source system should dictate your choice. For some source systems, it may be easier to pull individual transactions. For others, the best solution would be to bring in a trial balance. It really depends on the capabilities of the source system, its reporting capabilities, and how that data is stored in the source system. Know that pulling individual transactions will result in a slower import process because of the sheer number of transactions that will be brought in.
Related Questions
- Issue ID 59: If it is not a group transaction, there are only two options available for individual transactions, reverse and post. We can reverse a charge, but how can we notate a partial payment?
- How do I retain my adjusted trial balance so I can enter cash transactions for the next year and get a new trial balance?
- What are the cut-off times for transactions and receipt of balance and transaction information?
