Quickbooks Support

Call on Quickbooks Customer Support and Know How to Enter a Beginning Balance for an Existing Account.

In this article you will learn how to enter a beginning balance for an existing account in Quickbooks. To know more call on Quickbooks Customer Support.

By creating a journal entry to offset the Opening Balance Equity you can easily enter an opening balance for an existing account

• QuickBooks Online debits the new account and then credits the Opening Balance Equity account in case of assets and expense accounts

• QuickBooks Online credits the account and then debits the Opening Balance Equity account in case of liabilities, equity, and income accounts

• Once you have entered the beginning balance for accounts with a register you need to mark it as reconciled.

How to enter an opening balance journal entry?

Follow these steps to enter an opening balance journal entry:

• Click on thePlus icon (+) present on the Toolbar.

• Select Journal Entry under Other.

• Enter the date of Journal.

• Specify the Account on the first line to enter the opening balance for.

• In either the Debit or Credit column enter the opening balance amount depending on the account type.

• For assets and expense accounts in the Debit column enter the opening balance amount

• For liabilities, equity, and income accounts in the Credit column enter the opening balance amount

• Depending on the entry in the Account column specify one of the following in the Name field:

• If you selected Accounts Receivable/Debtors specify a Customer name

• If you selected Accounts Payable/Creditors specify a Vendor name

• In the Account column, select the Opening Balance Equity account on the next line.

• In either the Debit or Credit column enter the opening balance; make sure that you are entering it in the opposite column used on the first line.

For Example: You must enter this amount in the Credit column if you have entered the amount on the first line in the Debit column

• Click on Save.

• (This step is Optional) Identify the Location and Class and enter a Memo for the transaction if you have preferences turned on.

• Go to the register to mark this transaction as reconciled if the account has a register, such as a bank or credit card account

How to mark the transaction as reconciled?

Follow these steps to reconcile the opening balance transaction:

• Click on the Gear icon present on the Toolbar.

• Select Chart of Accounts under your company.

• Locate the account for the transaction.

• Select View Register from the Action column

• Click on the Opening Balance transaction.

• Indicating the transaction has been reconciled select the column labeled with a check mark until a letter R appears

• Click on Save.

To know more on how to enter a beginning balance for an existing account in Quickbooks call Quickbooks customer support. Also, you can write us at support@quickbooksupport.net .Feel free to reach us anytime; our team of executives is 24/7 available at your service. For more information visit, www.quickbooksupport.net.

122 thoughts on “Call on Quickbooks Customer Support and Know How to Enter a Beginning Balance for an Existing Account.

  1. Munchkin kittens make wonderful family pets. They are easygoing and get along well with children and the other pets of the household. Above all, they are hardy and an ideal pet, especially for first-time feline owners. Selecting a new kitten is a daunting task. You want one that is healthy but also comes with a pleasant personality and is adaptable to your lifestyle.

  2. ​Welcome to our Pitbull breeder home were we have been proudly breeding and showing quality AKC registered Pitbull puppy since 2004. Our main focus is to produce show quality pitbull puppies with amazing personalities suitable for ​their forever family. We treat every Puppy with individualized care based on their needs to give them the best opportunities in life. Click “Available Pitbull puppies” to check out our puppies and dogs looking for new homes.

  3. Thanks for your entire labor on this web site. My mother take interest in participating in research and it is simple to grasp why. My spouse and i notice all regarding the powerful tactic you produce useful thoughts via your website and in addition recommend response from the others on this subject then our own princess is undoubtedly studying a whole lot. Take pleasure in the rest of the year. You have been performing a terrific job.

  4. We are dedicated to the breeding of the finest quality, sweet-tempered rough-coated pug puppies at the most reasonable prices. We take great pride in the feedback received from purchasers of our puppies that their puppies have grown up to be very social and friendly adult dogs. This provides us with the necessary incentive to continue breeding these wonderful, loving and loyal companions..

  5. The truth about pit bulls is simple: They’re sweet, smart, hilarious, loyal companions. And we’re not the only ones who think so. Ken Foster’s beautiful book “I’m a Good Dog” continues to climb the charts, and National Pit Bull Day has been established in their honor.

  6. After looking at a handful of the blog posts on your site, I seriously
    like your technique of writing a blog. I bookmarked it to
    my bookmark site list and will be checking back in the near future.

    Please check out my website too and tell me your

  7. What are the most common fertility clomid for men dosage medications? Ordinary fertility medication at a peep Clomiphene, or Clomid is instances the senior treatment for mild infertility to incite ovulation. Injectable hormones may be recommended to whip or restraint ovulation as a way of treating a number of infertility problems. Other fertility drugs may be prescribed to oversee hormone or blood levels that correspond with a fertility problem.

  8. Is 20 mg of online viagra prescription enough. Your healthcare provider may desire to start you at 20 mg and spy how it works. You capability experience side effects on 25 mg or 50 mg, but less so (or not at all) on 20 mg or 40 mg. 50 mg dominion not be as serviceable as generic viagra viagra for men 60 mg someone is concerned you, and you and your healthiness provider harmonize the slightly larger dose is better.

  9. Please let me know if you’re looking for a author
    for your site. You have some really good articles and I think I would
    be a good asset. If you ever want to take some of the load off,
    I’d absolutely love to write some content for your
    blog in exchange for a link back to mine. Please blast me an email if interested.
    Many thanks!

  10. With havin so much written content do you ever run into any issues of plagorism
    or copyright infringement? My website has a lot of completely unique content I’ve either created myself or outsourced
    but it seems a lot of it is popping it up all over the internet without my agreement.
    Do you know any solutions to help protect against content from
    being ripped off? I’d truly appreciate it.

  11. Pingback: generic dapoxetine
  12. First off I would like to say great blog!
    I had a quick question in which I’d like to ask if you do not mind.
    I was curious to find out how you center yourself
    and clear your head prior to writing. I’ve had difficulty clearing my mind in getting my ideas out there.

    I do take pleasure in writing but it just seems like the
    first 10 to 15 minutes tend to be wasted just trying to figure
    out how to begin. Any suggestions or hints? Cheers! http://herreramedical.org/azithromycin

  13. Pingback: stromectol kidney
  14. Pingback: t stromectol
  15. Pingback: use of ivermectin
  16. Pingback: prednisone 625

Leave a Reply

Your email address will not be published. Required fields are marked *