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What is the Impact of Enabling Departments Much Later?

Our company only has Locations and Classes enabled, and we are looking to enable Departments now. However, we have transactions dating back to 2018. What is the impact of enabling departments now? I know the field will become mandatory on transactions (unless we hide it), and then if we want to departmentalize past transactions, is the only way to do that to open the periods and import with CSVs? Are there other areas we need to look out for? Thank you!

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