We appreciate you joining the thread, @G2Planet.
If you're using QuickBooks Online (QBO) and have vendors with open balances before the date you opened your account, it's best to leave the opening balance blank and add your vendor's unpaid bills to the program.
You can also edit the vendor bill and make changes to it to zero out the vendor balance. Here's how you can get through this:
- Access your QuickBooks Online company.
- Go to Expenses, then select Vendors.
- Select the vendor.
- Select the Opening balance bill.
- Change the expense account in the Category Detail line of the bill or add a new line if needed.
- Select Save and close.
For more details, please see this page: Manage outstanding balances for customers and vendors in QuickBooks Online.
If you're unsure of what account to use, we recommend contacting your accountant so they can help manage your vendor balance.
Additionally, here's an article to help you keep track of your transactions inside the program and manage your vendors:
The Community Team is always ready if you have any additional QuickBooks-related concerns or need help handling vendors inside the program. Keep safe.
