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.
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.
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.
What’s up to every one, it’s actually a good for me to pay a quick visit this web page, it contains
important Information.
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.
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..
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.
big fish casino [url=https://playcasinovivo.com/ ]slots for real money [/url] online casino bonus casino blackjack
cbd gummies walmart [url=http://cbdgummiesio.com/# ]cbd store [/url] buy cbd pure cbd oil
buy hemp oil [url=http://cbdforsalesh.com/# ]cbd hemp [/url] buy cbd cbd products cbd oil at walmart
real casino slots slots for real money online slots online slots
buy cbd [url=http://annabisoilweb.com/# ]buy cannabis oil [/url] cbd pills cbd for sale
Beneficial knowledge. Thank you. https://www.goldkamagra.com long will kamagra last Oddzp92
Thank you! Good stuff. https://www.kamagradr.com kamagra 100mg brausetabletten Ajdm40y
levitra
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
opinion.
Wonderful data. Thank you. https://www.withoutbro.com/# viagra online same day delivery Yyjdt56
You definitely made your point!. https://withoutshort.com
generic viagra
This is good and best https://sites.google.com/view/123hpcomsetup4520/
This is good as well https://sites.google.com/view/123hpcomsetup4520/how-to-fix-brother-printer-offline-error
With thanks! I appreciate it! viagra online no prescription – sildenafil 100mg price in india
Thanks. Loads of information.. https://withoutshort.com
tadalafil