Our school completed the transition from being a corporation to a trust in November. However since the process had started much earlier, I was advised to start the books over on October 1 for the trust.
Since many transactions took place after Oct 1 and before the date that I was told to retroactively label the transactions as belonging to the trust, I just carried on with the corporation until I had some time to spare to figure out the logistics. This is, supposedly, that time.
I cloned the company by copying and renaming the .QBI, .QBW and .QBB files. It was my simple notion that I would just delete all of the transactions before Oct 1, but life does not turn out to be that simple. The biggest issue I have found so far is with partially paid student (customer) invoices that span the Oct 1 boundary. I don't want to delete invoices that were created before the trust but on which payments are yet to be made. There may well be other issues I haven't tangled with yet.
My questions:
Is there a better way to create a new company (trust) that has all of its default settings and partially paid invoices preserved?
Is there a better way to resolve the invoice problem other than to retroactively change the amount on the corporation's invoices to the amount actually paid before Oct 1 and then to create new trust invoices for the balance?
Any help appreciated.
Larry