Dear Sirs,
I am migrating from another accounting software to QBO. I will need to bring in the opening TB as at 31/12/21 since I will start using QBO wef 1/1/22. Therefore I will need to bring in the
1. Attached TB as at 31/12/21;
2. Attached SGD Account Receivables Details as at 31/12/21
I understand that I will need to post:
a. Opening balance JE for each foreign currency imported
However, how do I bring in the opening SGD customer balances for the outstanding invoices as at 31/12/21 into QBO as I will be receipting these collections in QBO wef 1/1/22. Do note that some of these invoices were o/s since prior to 31/12/21.
I read some of the articles in the community that I need to go to the customer balance to enter the opening balance but that is a total amount. https://quickbooks.intuit.com/learn-support/global/customer-statements/how-to-enter-outstanding-bala... In addition, when I see the entry in QBO Sales List, the tranx is posted to Dr AR, Cr Revenue which is incorrect because when I import the TB this would have already picked up the AR in either the Revenue for 2021 or in Retained earning if the AR is from prior years.
Please advice.
P.s. Unfortunately, I can only attach 1 file. How do I attach the TB?
