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June 25, 2024
Question

Can I add yearly historical financial statements in QBO from 2021 to 2023? I am starting a client's file in QBO in 2024. I do not have past years detailed transactions.

  • June 25, 2024
  • 2 replies
  • 0 views
The only information available is the year-end financial statements of the company. How do I record the yearly financial statements? Should I use opening balance or through journal entry?

2 replies

June 26, 2024

The best option is to have trial balances for those historical years and import them as JE.

June 26, 2024

Hi there romina-startupof,

 

Thanks for reaching out about your prior history. QuickBooks Online is a great tool able to assist you with keeping track of your sales and expenses so you know the profit of your company. I can provide some information about entering these transactions.

 

To enter it all at once, you can create or import a journal entry as mentioned by 4Gal. To create a Journal entry, go to +New, then Journal entry. To import one instead, you can follow the steps in this article.

 

If you have any other questions, feel free to reach out here.