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October 1, 2024
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How to remove opening balances

  • October 1, 2024
  • 1 reply
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Hi ALl,

when I run a trial balance some items in it contain an opening balance only and they date back to 2021/2022, I have no idea how they were created, is it possible to remove them so that they do not show in the Trial Balance

Best Regards,

Noel

Best answer by Rainflurry

@TUSSU 

 

You can close them out to another current GL account with a journal entry but I think that's your only option at this point.    

1 reply

October 1, 2024

Good day, @TUSSU

 

I wanted to clarify your question regarding the items on the Trial Balance report. When you mention "items," are you referring to the accounts listed in that report?

Please note that this report provides a summary of the debit and credit balances for each account in your chart of accounts over a specific period. Any information you can add would be much appreciated.

 

If you are indeed referring to the accounts, I want to inform you that the option to remove them from the Trial Balance report is unavailable in QuickBooks Online. While you can inactivate certain accounts and customize other reports, there’s no option to hide specific accounts in the Trial Balance report.


As a workaround, you do have the option to export your Trial Balance report data to Excel. This way, you can manually remove any accounts you wish to exclude for your review.

Here's how:

  1. Go to the Reports menu.
  2. Search for the Trial Balance report and open it.
  3. Click the Export/Print▼ drop-down list, then choose Export to Excel.
  4. Save the file somewhere you can easily find, like your Downloads folder or your desktop.

 

You can also check your Audit log to see who created these accounts and track changes made in your books.

Additionally, QuickBooks Online lets you customize reports to get the specific information you need for your business. Once you set it up, you can memorize them to save your custom settings.

 

Please feel free to let me know if you have any further questions about removing items or accounts from the Trial Balance report or if there’s anything else I can assist you with. I’m here to help you in every step of the way.

TUSSUAuthor
October 2, 2024

Thank you for your quick reply, these accounts appear to have been created when we switched over from Sage to Quickbooks, they are from previous years but I do not know if I can remove them as they may impact my balances. They are old entries so why are they showing up in the trial balance?

Rainflurry
October 2, 2024

@TUSSU 

 

You can close them out to another current GL account with a journal entry but I think that's your only option at this point.