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sherryhagemeier
June 22, 2022
Question

I have switched a non-profit organization to QBO. I have used projects to track funding. How do I enter opening balances in the projects?

  • June 22, 2022
  • 1 reply
  • 0 views
I have done the switch at year end but some of the funding from the prior year had surpluses which I need to account for in the new year in QBO.

1 reply

J
JamesM4
June 22, 2022

Hello sherryhagemeier, 

 

Welcome to the Community. QuickBooks is designed to help you streamline your work using the versatile features included in the program. I'll be happy to share more info so you're on the right track with achieving your QuickBooks goals. 

 

Here's how you can add expenses to your projects: 

 

  1. Go to the Projects menu.
  2. Select your preferred project.
  3. Click the Time Activity tab.
  4. Select Track time.
  5. Enter the needed details of the Time Activity and click Save and close when done.

For more info, I encourage you to check out this helpful article with more info about: Setting up and create projects in QuickBooks Online. You can enter an opening balance that affects the Chart of Accounts, have you looked into this yet? 

 

You're more than welcome to ask other questions in the comments below. I'll be one message away. 

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