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chris_slater
May 4, 2020
Question

I am moving from another system and wish to enter my Opening Balances.

  • May 4, 2020
  • 1 reply
  • 0 views
I believe that I should not enter balances directly to Debtors and Creditors but, rather, enter the individual balances for each customer and supplier separately. My question is should these balances include that VAT element or not?

1 reply

R
Rasa-LilaM
May 4, 2020

 Welcome aboard to the Community, chris_slater.


To ensure the balance information is correct for each customer and supplier, I suggest consulting with an accountant. They can provide recommendations on whether to include the VAT element or not in recording the information.


Let me also share the Post conversion checks for getting started with QuickBooks Online article. It outlines the tasks you’ll have to perform before you start using the product.

 

I’m also adding a guide to help get started and acclimated to the product. It contains a link to our online tutorials as well as articles to smoothly manage your business: QuickBooks Online.


Keep me posted if you have any clarifications or other concerns. I’m here ready to help and make sure you’re taken care of. Have a good one.

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