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Opening Balances in QuickBooks Online Advanced Payroll

SOLVEDby QuickBooksQuickBooks Online Payroll3Updated almost 3 years ago

The Opening Balances settings page allows the user to configure the initial financial year for your business as well as import/export the opening balances for employees in the business.

To get to the Opening Balances settings page, go to Payroll Settings, then Opening Balances.

The following page will be displayed

The initial financial year for the company may be adjusted here. This is the year that the opening balances that Gross/PAYE will apply to. (Leave balances are simply adjusted by the opening balance specified).

Additional Functions

  • To Import the opening balances, select Import.
  • To Export the opening balances to a CSV or Excel file, select Export.
  • To configure the opening balances for a specific employee, open up the employee file and then go to the Opening Balances section.

To set the employees individual opening balances please see Setting Employee Opening Balances.

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