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Anonymous
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How should I enter my opening balances for a mid year conversion to QuickBooks on line? I want to produce a P&L and Balance Sheet that matches to the old version.

 
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Community Champion

How should I enter my opening balances for a mid year conversion to QuickBooks on line? I want to produce a P&L and Balance Sheet that matches to the old version.

Use the balance sheet and trial balance reports from old system as of date of conversion to enter dame numbers in new system. Your P&L will automatically carry forward based on those numbers. 

 

If you are moving from  current QB Desktop product you should export from desktop to QBO and compare balance sheets between old and new and make any adjustments for transactions not carried over.

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