Quickbooks Online How to Change Beginning Balance
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- Опубликовано: 15 сен 2024
- Quickbooks online how to change beginning balance. When you start using Quickbooks Online you have to enter opening balances for accounts if you have already been in business.
Entering opening balances can be a challenge and many times you don't understand what exactly you're doing. So you later discover that the opening balance you entered was wrong and now you need to change the opening balance.
This video shows you, in Quickbooks Online, how to change your beginning balance so you can make sure that your financial statements are correct!
www.QBUniversity.org/Masterclass - Discover the 4 simple steps to learn Quickbooks.
What do you if you did not enter an opening balance when you createdthe account? How do you add it then?
Great video as usual. I have a question for Quickbooks Desktop?
Is there any report that can show the payment per customer and the invoice/invoices that payment is linked with?
I was searching a lot and I couldn't find or create such a report.
Thank you very much.
Happy that I found your Channel... Really helpful. I haven't work with QB for almost 10 years and now I fell sort of loss. I have a question... Yesterday the admin updated OB and also the connection with the bank and studently both bank accounts has splitted into 4 bank accounts. I cancelled all reconciliations trying to start over again but it is showing a beginning balance that wasn't there before . Is possible that the data has been corrupted ? Any recommendation?
It shouldn’t be corrupted since it’s QBO but sometimes weird stuff happens with bank feeds. You may have to shut off bank feeds, inactivate the accounts duplicated and then reconnect the originals.
We did not create an opening balance equity entry on our checking account. This is making the QuickBooks balance different from the bank balance. How do I correct this?
You would have to do a journal entry to correct the opening balance
Thanks for your teaching. I don't see the asset register. can you help please?
You can go to the chart of accounts and double
Click the asset
Thank you for all your help. I'm still in search of a job. Will gladly appreciate anyone's help. DMV metro area or anywhere if working remotely. 🙏😄
How do you close an account? Just change it to $0.00?
Thanks for your informative and detailed videos!
You can make it inactive but if there’s a balance it’ll still show. You can make it zero to get rid of it
@@QbuniversityOrg thank you!
@@laurenobrzut5051 welcome!
Hi. I have a question.
one of my client's business bank reconciliation on not up to date. like, it was last reconciled in 2021. Now I want to start the reconciliation for 2023 - the beginning balance doesnt matches. how can we fix that??
Since it’s in a prior year I would do a journal entry as of 1/1/23 correcting it then start reconciling
What entry can be passed to clear that discrepancy!?
You would debit or credit the checking and depending on the adjustment amount I would make the other side of the entry Office Expenses or something.
@@QbuniversityOrgso do you take the current beginning balance (say from 2021)and subtract the ending balance from the previous (say 2019) and enter the subtracted amount?
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