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Mariella Stankov-Purdie
November 27, 2021
Question

Opening balance Sales Ledger

  • November 27, 2021
  • 1 reply
  • 0 views

Hi team, I am migrating data from a 3rd party software to QBO, I stumbled on a problem, where I have a payment on account, but no sales invoice yet. How to post this opening balance for this customer. My bank statement has been reconciled = cash book for the financial year. The migration is done at year end. 

1 reply

D
DebSheenD
November 27, 2021

I'm here to help you set up an opening balance to your account, Mariella Stankov-Purdie.

 

 

Generally, QuickBooks Online will automatically create a beginning balance based on the first invoice you've entered. For customers who have no invoices yet, you can open their profile and set up the amount from there. Here's how:
 

  1. Go to Sales, then choose Customers.
  2. Double-click the name of each customer.
  3. Go to the Payments and Billing which is between the Tax info and Attachments tabs, then enter Opening Balance and as of date.
  4. Tap Save.

 

You can check out this article for more details: How to enter outstanding balances for customers and suppliers.

 

Additionally, I've included this article that'll help you how to process a payment if the invoice was paid: Record invoice payments in QuickBooks Online.

 

Please visit us again if you'll need either assistance in setting up your account. I'm always here to back you up.

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