If you have spoken to Customer Support and had a replacement file delivered, you may have outstanding cheques from past months/years in your existing file that needs to be reviewed and managed.
You need to speak to your accountant so they can advise on the best way to handle these records.
Things to consider if you are a reporting GST on a Cash basis:
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Your accountant may suggest writing off outstanding Dr & Cr’s in the old file that may never be paid or received, hence not carried forward to the new file.
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If there are outstanding cheques in the old file which are not entered into the new file, your customers may lose track of monies still due. This may cause the account to become overdrawn if the customer is not expecting it.
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Ensure your accountant is aware of any Dr or Cr entries that may have been claimed in the previous financial year's tax
Things to consider if you are a reporting GST on an Accruals basis:
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If there are outstanding cheques in the old file which are not entered into the new file, your customers may lose track of monies still due. This may cause the account to become overdrawn if the customer is not expecting it.
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By not entering the outstanding transactions correctly into the new file, over claiming GST may occur.
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Ensure your accountant is aware of any Dr or Cr entries that may have been claimed in the previous financial year's tax
For more information, please see:
Entering Outstanding Transactions Into A New File – Agrimaster
Add GST Free or Mixed GST Transactions – Agrimaster
Create An Agrimaster DR & CR Outstanding Report – Agrimaster
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