Sage Intacct Implementation Practice Test 2025 - Free Sage Intacct Practice Questions and Study Guide

Entering checks and deposits that were open as of the last bank reconciliation into the Initial Open Items is essential for maintaining accurate financial records after a migration to Sage Intacct. This process ensures that all outstanding transactions prior to the migration are captured and accounted for correctly in the new system. It allows for a seamless transition where those open items can be reconciled against future bank statements, helping to maintain the integrity of the bank ledger.

By using Initial Open Items, users ensure that these transactions are recognized and do not affect the current transactional history erroneously. This method also aligns with best practices for data migration, which includes having a clear and organized way to transition past transactions into the new system. Historical Records would typically refer to completed transactions that have already been reconciled, while Pending and New Transactions pertain to current or future activity, thus making them unsuitable for open items from a previous reconciliation.