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Anonymous
October 25, 2022
Question

MANAGE/EDIT CUSTOMER BALANCE AFTER CREATING THE CUSTOMER

  • October 25, 2022
  • 1 reply
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I CREATEAD A CUSTOMER BUT FORGOT TO INPUT THE OUTSTANDING BALANCE OF THE CUSTOMER DURING THE CREATION OF THE CUSTOMER. I TRIED TO EDIT IT ON THE CUSTOMER INFO BUT IS NOT ALLOWING ME TO DO SO. HOW DO I DO IT? THANKS

1 reply

JenoP
JenoP
October 25, 2022

Thanks for joining us here. Allow me to share details about balances in QBO, apvirtucio.

 

Once a customer or vendor profile is saved, you can no longer edit it to add the balance. However, you can create a journal entry to increase or put in the customer's balance. I also recommend reaching out to your accountant before recording the journal entry to make sure that this is the right approach. 

 

Let me also share these steps on how to record it: 

 

  1. Click the + New button and select Journal entry.
  2. Proceed to the first line, then choose Accounts Receivable in the Account field.
  3. Enter the amount in the Debits column.
  4. Go to the next line and look for Opening Balance Equity. Then,  type in the same amounts in the Credits column.
  5. Enter information in the Memo section so you know why you made the journal entry.
  6. Make sure to select the name of the customer in the Name column.
  7. Select Save and new or Save and close.

 

 

 

Here's an article about this process for more details and additional guidance as well: Create a Journal Entry in QuickBooks Online.

 

Don't hesitate to reply to me and let me know if you're able to adjust or enter the balance. I'd be glad to get back here for any follow-up questions. 

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