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mafouad
Level 1
posted
‎August 09, 2023 01:03 AM
last updated ‎August 09, 2023 1:03 AM

I have the customer's financial position and I want to enter the balances of all accounts on QuickBooks Online, how do I do that?

After I entered all account balances (such as customers by making invoices)
And suppliers by (make an invoice for purchases and also enter balances for the items) Is what remains in the account called the opening balance Equity is the capital

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1 Comment 1
Mark_R
Moderator
Moderator
‎August 09, 2023 02:42 AM

I have the customer's financial position and I want to enter the balances of all accounts on QuickBooks Online, how do I do that?

Hello there, @mafouad.

 

Allow me to share some information about the opening balance and help you enter it.

 

QuickBooks tracks all of your balances for all of your accounts in an Opening Balance Equity account. With that said all the balances of your created sales and expenses will go to the said account. 

 

To review, you can run the Balance sheet report and find the Opening Balance Equity account. Then, click the Amount to view the transactions report. 

 

I'm adding these articles to learn more about opening balance in QuickBooks:

 

 

Just in case you're ready to reconcile an account, you can check out this article for detailed steps and information: Reconcile an account in QuickBooks Online.

 

Fill me in if you have other concerns or follow-up questions about this. I'll be more than happy to assist you again.

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