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LDOLMAN96
August 18, 2022
Question

Brought forward balances?

  • August 18, 2022
  • 1 reply
  • 0 views

Hi 

 

I use QBO for  our business accounts. 

I have received our annual accounts back and as part of this i have been provided with the opening balances at the start of the current FY.

 

I need to generate a BF Trial balance / balance sheet on my QB so that i can do an adjusting journal to restate the balances to the ones provided with our year end accounts.

 

I cant find how to do this ANYWHERE! Obviously i have the option to generate the report @ the first day of the financial year, this is just not sufficient due to transactions inside that day causing balance discrepancies.

 

Surely someone else must have had this problem?

 

Thanks in advance for any help anyone may be able to give me.

Kind regards

1 reply

Adrian_A
Adrian_A
August 18, 2022

Hello there, LDOLMAN96.

 

I've got the steps on how you can run the balance sheet report so you can do adjusting entries.

 

Here's how:

 

  1. Click the Business overview tab.
  2. Click the Reports tab.
  3. Enter and select Balance Sheet.
  4. Click the Customise button.
  5. Filter the Report period.
  6. You can add or remove some data from the Filter and Rows/Columns section.
  7. Click Run report.

 

Also, you can reconcile the account after the adjustment, so they always match your bank and credit card statements. Here's an article as your guide: Reconcile accounts.

 

I'm just around whenever you have concerns with the reconciliation.

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