What are historical sales and purchases?

Historical sales and purchases are the sales and purchases that had a current balance due on the first day of the month in which you began using Premier Accounting. This month is known as your conversion month. To recall your conversion month, choose Company Information from the Setup menu.

Because your customers may still owe you money for their purchases and you may still owe vendors for your purchases, it's important that you record these sales and purchases in Premier Accounting.

The total balance of your historical sales -- your open sales as of your conversion month -- is your receivables account balance. The total balance of your historical purchases -- your open sales as of your conversion month -- is your payables account balance.