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D
Douks
December 30, 2021
Question

I need to set opening balance for a customer who I've already invoiced and taken payments. Saving is successful but no Opening Balance invoice is created. How can I fix?

  • December 30, 2021
  • 1 reply
  • 0 views
I started using qb on 1/4/20 having moved from sage. My previous balance sheet had a number of debtors and creditors that I need to get into qb in order to produce 20/21 balance sheet accurately. This issue is customers that had outstanding balances when I started with qb and their payments are now showing in my bank feed for April 20, but with nothing to match them against. Hence why I need to add an opening balance which I think will result in an invoice I can match against, but will avoid any double counting as far as P

1 reply

A
Ashleigh1
December 30, 2021

Hello Douks, 


Welcome to the Community page, 

 

So you can enter in the opening balance for the customer by doing a journal entry if you have a look at this link it has more information about it and what steps to take. 

D
DouksAuthor
December 30, 2021

Thanks Ashleigh

I had seen this article, however I'm stuck at step 1 because there isn't an account for the customer - which one should I be looking at? I guess Debtors as that's where it is on my previous balance sheet, but would be great if you could confirm.

Also do you know why the opening balance doesn't save when editing a customer? From what I read it should create an invoice of sorts and populate the relevant accounts.

Thanks again

R
RoseJillB
December 30, 2021

Thanks for getting back, @Douks. Let me help you with creating an opening balance in QuickBooks Online (QBO).

 

You can also manually create an invoice for your opening balance. Let me guide you how:

 

  1. Go to + New.
  2. Select Invoice.
  3. Fill out the sales form.
  4. Under Product/Service, kindly add Sales.
  5. Add Opening balance under Description.

     

Let’s also make sure that the invoice and due date are the same as the opening balance date of the account.

 

For future reference, you can also checkout this article to reconcile your account in QuickBooks Online.

 

Let me know in the comments if you have further questions in mind. Stay safe!

 

 

 

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