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A
aliciasergeant
June 22, 2021
Question

My client has only just joined Quickbooks for 2020. I started with all the opening bank balances but I have two 2019 GST rebates I need to add. How should I do this?

  • June 22, 2021
  • 1 reply
  • 0 views
The GST cheques weren't received until 2020

1 reply

T
Tammy_H
June 22, 2021

Hi aliciasergeant,

 

It's wonderful to see new members reaching out in the QuickBooks Community. You'll find it's a great place to get answers to your questions. I know keeping your numbers accurate is a crucial part of record keeping. I can provide you with the options.

 

Some variables affect the way you would enter the rebates. Here are some of the possible options:

  • If you've already accounted for the amounts in the opening balances, they were recorded in the previous accounting software.
  • Files Sales Tax

If you need a helping hand, reach out. Take care.

A
aliciasergeantAuthor
June 23, 2021

Thank you. I wanted to add an opening balance to either Accounts Receivable or GST Payable for this 2019 rebates but I wasn't able to. The only opening balances I recorded were the bank accounts starting Jan 1st 2020. I just don't want to record the rebates as income. 

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