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Charlinda Byrd
September 28, 2022
Question

Owner's Contribution Captured

  • September 28, 2022
  • 1 reply
  • 0 views

Good Day,

 

I'm new to the program and doing initial capturing to familiarise myself.  The attached image indicates an opening balance from a new bank account and the owner's equity contribution.  Has it been captured correctly?  Is any other entry missing?

 

Thank you,

Charlinda

1 reply

M
MirriamM
September 28, 2022

Welcome to the QuickBooks family, Charlinda. Good to see you here in the Community space.

 

I'm happy to share information about how QuickBooks Online (QBO) works when running reports.

 

Based on the screenshot you attached, it appears that you're running the Balance Sheet report. This report will show what you own (assets), what you owe (liabilities), and what you invested (equity). Please know that the information displayed is based on the data you entered into the system. So if you create a bank account with an opening balance, it'll show under the asset section. And it appears that it doesn't display on the report. To verify, we can check your bank register.

 

Here's how:

 

  1. On your QBO account, click Accounting in the left menu.
  2. Go to the Chart of accounts tab.
  3. Locate the bank account you created.
  4. Click the View register link under the Action column. 

 

From there, you'll see all the transactions under your bank register. If it has an opening balance, I suggest making sure that you have set the filters accordingly on the report, like the Report period. 

 

To learn more about running reports and how you can personalise them based on your needs, see these helpful articles:

 

 

For future help, you can bookmark our Community Self-help articles. It contains resources that will guide you on how to perform any QuickBooks tasks. 

 

Get to me in the comment section below if you have any other issues or concerns while using QuickBooks. I'm always here to help. Take care.

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