Hi @farmgirlkent69
If you have an invoice or bill dated in last tax year, that's where it needs to stay. If you already have the bill in another system your accountant will be dealing with it in last tax year - if you enter in QBO you will be double counting.
What you need to do is add an Opening Balance to the Supplier.
You can do this when creating a new supplier or an existing one (as long as you haven't already entered a bill).
- Go to the Supplier List > Select > Edit.
- Opening Balance is mid-right of the popup.
- Just work out the outstanding balance as of 1st January.
When you now go to Pay Bills, the outstanding balance will be there in the same way as a bill - the difference is in the Chart of Accounts.
This should also be done with Customers where a balance is brought into QBO on the start date.
Hope this helps.
