No, you do not. I cannot figure out why you would say this. You need to visit only the tabs you must already visit to establish accounts and subsidiary ledgers (customers, suppliers, employees, etc.). Thus, setting starting balances is part of establishing your chart of accounts and subsidiary ledgers instead of a separate process with separate locations. And if there are pending invoices or bank transactions, you enter them in the same place as regular transactions rather than an extra place.
I agree. But since you have to set up your accounts and subsidiary ledgers to create that balance sheet, why have a totally separate process to navigate after you have done it? Why not enter the starting balances as you create the elements of the balance sheet? Fewer places to go, fewer mistakes to make, and a more intuitive place to look for a problem with any specific element after the fact.
Contrary to what you keep saying, the old approach did not produce an initial balance sheet. You had to create the balance sheet first. Then, in a completely separate process, you had to separately plod through entering starting balances.
Yes, you can. At any stage, you can look at the Summary or the Balance Sheet report, or the Starting Balances report. The fact is, the Starting Balances report is actually unnecessary, because you could always create an ordinary Balance Sheet for your start date. The Starting Balances report is only insurance against the possibility of regular transactions being entered on that date that would affect the balance sheet.
Why do you care? It is already done and you didn’t have to do it. And a simple report replaces an entire module under the Settings tab.
No, you did not. Nothing in the program told you what needed to be entered. You previously had to start with and ending balance sheet (or equivalent) from the old accounting system. You relied on an external document or your memory then, and you will do the same now.
There is no point navigating back to an unnecessary process (that has been eliminated). Besides, the screen you navigated back to in the previous system did not tell you what had to be entered next. You had to rely on the old accounting method’s final balance sheet.
No, you will not. Even if you insist on creating your balance sheet first, then go back to fill in starting balances, you cannot possibly duplicate anything, because if you entered a starting balance, it will be staring you in the face.
Frankly, I think you may be victimized by wanting to keep doing things in the same order as you always have: create the chart of accounts and only then enter the starting balances, as though that were mandatory. Look at the situation from another viewpoint: starting balances in any account or subsidiary ledger are part of defining the account or subsidiary ledger. Do them all at once with fewer processes to go through.