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A
accountant3601
September 28, 2023
Question

How to create opening balance for Accounts Receivable

  • September 28, 2023
  • 1 reply
  • 0 views

Hi all,

I'm a new bookkeeper and my boss gave me a trial balance of a customer and I'm creating a new company file for this customer onto QB Premier Accountant. 

 

There is a balance for Accounts Receivable on the trial balance and I have a hard time figuring out on how I am going to enter the A/R balance. 

 

I was thinking, maybe I can create an invoice but realize that it's not the right way because I need to enter Item Name/Number and I do not have that. 

 

Any advice?

1 reply

J
JamesM4
September 28, 2023

Hi there, 

 

Thanks for contacting us in the Community. QuickBooks is an easy-to-navigate program that helps you to manage your accounting with ease. I'll be glad to share more info so you're on the right track with your work. 

 

In order to record your transactions the correct way, I recommend consulting an accounting specialist for expert advice. This ensures your books remain accurate while you continue to manage your work with peace of mind. You can also get in touch with a professional using this link here. Other accounting professionals are able to see this post in the Community and this will allow them to chime in. 

 

Let me know if this info helps. I'm here to steer you in the right direction.

A
accountant3601Author
September 28, 2023

Thx for your answer however, you maybe misunderstood my question. I do not have issue with recording A/R transaction. 

 

What I have issue with is, entering the opening balance of the A/R account for a new company that I recently created the file at QB. 

J
JamesM4
September 28, 2023

I see what you're saying. In that case, I recommend checking out the following article as it shows you how to: Enter opening balances for accounts in QuickBooks Desktop. Feel free to ask other questions as you browse through the article. 

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