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When setting up my company in Peachtree, what should my first accounting period be? In Quicken, it is never necessary to “close” a period. In fact, there is no way to close, so all the transactions you ever entered into Quicken are accessible. In Peachtree, you can have two years or 24 periods open, meaning that you can access (display) the transactions in these periods. Any transaction entered in Quicken prior to the date you enter as your first accounting period will not be accessible in Peachtree. Generally, this first date should be the beginning of your current fiscal year, for example, January 1, 2000. But if you want access to previous transactions, it might be the beginning of the previous fiscal year. No Quicken transactions that you made prior to the first Peachtree accounting period you enter will be accessible in Peachtree Accounting. For example, if you have a service charge in November 1998, but enter your first accounting period as January 1, 1999, you can’t edit that service charge transaction.
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