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rita-coastcareho
Level 1

How do I enter opening balances for individual customers manually. Already raised invoices in QB without putting the opening balance in first so how do I put them in now?

 
Solved
Best answer January 10, 2021

Accepted Solutions
JenoP
QuickBooks Team

How do I enter opening balances for individual customers manually. Already raised invoices in QB without putting the opening balance in first so how do I put them in now?

You can create a Journal Entry to enter the customer's opening balance, rita-coastcareho. 

 

Then, debit the Accounts Receivable account to increase the balance. Here's how:

 

  1. Click the + New button in the upper-left hand corner and click Journal Entry
  2. Enter the date when you want to retroactively record the opening balance in the Journal date field.
  3. Proceed to the Account column and select Accounts Receivable in the first line.
  4. Enter the amount in the Debits column.
  5. Go to the second and enter the a second account to balance the entry. You'll want to reach out to your accountant if you're unsure which account to use. 
  6. Enter the name of the customer in the Name column.
  7. Click Save and close

Repeat the same steps for the rest of the customers. Let me share this article for more details about this option: What To Do If You Didn't Enter An Opening Balance In QuickBooks Online.

 

Just in case you have not completed your year-end tasks, you can check out this article for additional guidance and reference: QuickBooks Online Year-end Guide And Checklist.

 

I'd be glad to jump right back if you have follow-up questions. I'm always here to help. 

 

journal entry.PNG journal entry 2.PNG

View solution in original post

7 REPLIES 7
MaryLandT
Moderator

How do I enter opening balances for individual customers manually. Already raised invoices in QB without putting the opening balance in first so how do I put them in now?

I'm here to help enter opening balances to your customers, rita-coastcareho.

 

QuickBooks Online will automatically create an opening balance based on the first invoice you've created. For customers who have no invoices yet, you can open their profile and set up the amount from there.

 

Let me show you how:

 

  1. Go to Sales, then select 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. Click Save.

Please refer to this page for additional information: How to enter outstanding balances for customers and vendors

 

Once customers paid what they owe, you can start recording their payments.

 

Let me know if you have follow-up questions by commenting below. I'll be around whenever you need help with entering opening balances of customers.

rita-coastcareho
Level 1

How do I enter opening balances for individual customers manually. Already raised invoices in QB without putting the opening balance in first so how do I put them in now?

Thank you for your reply but this area where I need to enter an amount is greyed out and I am unable to enter anything. I have already raised and sent an invoice for some customers and this is where I am having difficulties. Can you advise how to enter the opening balance in this circumstance please?

RenjolynC
QuickBooks Team

How do I enter opening balances for individual customers manually. Already raised invoices in QB without putting the opening balance in first so how do I put them in now?

I'll share a solution to enter the opening balance, 

 

When the opening balance option in the Customer Information is grayed out, this means that the amount was already entered. The program automatically creates a new invoice for the opening balance. 

 

Let's find the transaction and edit the amount by following these steps:

 

  1. Go to Sales > Customers.
  2. Select the customer's name and find the invoice that says "Opening Balance" in the Memo field.
  3. Click to open the transaction and edit amount.
  4. Hit Save or Save and close.

Please see these sample screenshots for a visual guide:

 

 

 

You can also read this article more for more details: How to enter outstanding balances for customers and vendors. To view other articles and guides, feel free to visit out general help topics page. 

 

Please let me know in the comments if there's anything else you need. I'll be around to help you out again. Take care!

rita-coastcareho
Level 1

How do I enter opening balances for individual customers manually. Already raised invoices in QB without putting the opening balance in first so how do I put them in now?

Apologies, as I think I am not being quite clear enough. There is no opening balance entry to find to be able to edit as the greyed out area is £0.00, as I haven't put any opening balances in as yet but have raised invoices in January 2021. I need to retrospectively enter the opening balances.

JenoP
QuickBooks Team

How do I enter opening balances for individual customers manually. Already raised invoices in QB without putting the opening balance in first so how do I put them in now?

You can create a Journal Entry to enter the customer's opening balance, rita-coastcareho. 

 

Then, debit the Accounts Receivable account to increase the balance. Here's how:

 

  1. Click the + New button in the upper-left hand corner and click Journal Entry
  2. Enter the date when you want to retroactively record the opening balance in the Journal date field.
  3. Proceed to the Account column and select Accounts Receivable in the first line.
  4. Enter the amount in the Debits column.
  5. Go to the second and enter the a second account to balance the entry. You'll want to reach out to your accountant if you're unsure which account to use. 
  6. Enter the name of the customer in the Name column.
  7. Click Save and close

Repeat the same steps for the rest of the customers. Let me share this article for more details about this option: What To Do If You Didn't Enter An Opening Balance In QuickBooks Online.

 

Just in case you have not completed your year-end tasks, you can check out this article for additional guidance and reference: QuickBooks Online Year-end Guide And Checklist.

 

I'd be glad to jump right back if you have follow-up questions. I'm always here to help. 

 

journal entry.PNG journal entry 2.PNG

MJ Diala
Level 1

How do I enter opening balances for individual customers manually. Already raised invoices in QB without putting the opening balance in first so how do I put them in now?

Hi, what if there's no opening balance in MEMO and there's a recent transactions. Should I create a journal entry? What would be the possible solutions? Thanks.

GeorgiaC
QuickBooks Team

How do I enter opening balances for individual customers manually. Already raised invoices in QB without putting the opening balance in first so how do I put them in now?

Hi MJ Diala, a journal entry is the best solution for entering an opening balance for a customer, you can follow the steps above to record this. :)

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