What is the Historical Adjustment account in Kontuly?
Historical Adjustment is an equity account Kontuly creates when you convert from another package, to hold anything that doesn't agree. When everything agrees, it ends at zero and the review says "Everything agrees: nothing goes to Historical Adjustment."
What ends up in it?
- a difference if the trial balance doesn't balance (total debits don't equal total credits);
- a difference between your unpaid invoices and accounts receivable (what customers owe you) in the trial balance;
- a difference between your unpaid bills and accounts payable (what you owe suppliers).
The conversion review shows how much will go to Historical Adjustment before you import.
Why is my trial balance out of balance?
Usually a column is matched wrongly: for example the debit and credit columns swapped, or a total row read as an account. Go back to the opening balances step and check the Header row and columns. If your file has one signed column instead of debit and credit columns, match it to Balance.
Why don't my open invoices match receivables?
Check that both reports are as at the same date, the day before the conversion date, and that the aged receivables report is the detailed one, with one line per unpaid invoice. The same goes for bills and payables.
It isn't zero after the import. What now?
Ask your accountant to look into it and clear it with a journal. If the difference comes from a mistake in the files, you can instead restore the backup taken before the import and convert again; see How do I undo or redo a conversion?
Related questions
- How do I convert my books into Kontuly from another package?Step by step through Kontuly's conversion wizard. Choose your old package and date, add the exported files, check the balances, and import into a new business.
- Can I switch to Kontuly from MYOB, Xero, QuickBooks, Reckon or Sage?Yes. Kontuly converts your chart of accounts, contacts, opening balances and unpaid invoices and bills from MYOB, Xero, QuickBooks, Reckon or Sage.
- How do I undo or redo a conversion in Kontuly?A Kontuly business can be converted once, and the conversion journal can't be voided. Restore the backup taken before the import to start again.
More about switching and your accountant
- How do I import contacts or a chart of accounts into Kontuly?Bring contacts or a chart of accounts into a running Kontuly business from another package's export. Nothing is posted and no trial balance is needed.
- How do I send my Kontuly books to my accountant?Export your books from Kontuly in your accountant's package format (Xero, MYOB, QuickBooks, Reckon, HandiLedger) or as CSV. They don't need Kontuly.
- Which export formats does Kontuly have for accountants?Kontuly exports for Xero, MYOB, QuickBooks Online, Reckon Accounts, MYOB AO, MYOB AE, Reckon APS, HandiLedger and generic CSV. What each contains.
- Can my bookkeeper and I both use Kontuly?Kontuly is one person on one computer at a time. Share your books with a bookkeeper by sending a backup file they restore, or an export for their own package.