I am working a person that is identifying as a QB Pro(?). Helping them with the tax. We have five entities that must be put on QuickBooks. They inherited this work from another accountant who did not have QB. I explained to them how to put the assets and loans into QuickBooks with the applicable balances. And even showed them the FAQ documents with a link that shows two ways how to do it.
Problem is this person has a fear of the opening equities account and retained earnings when trying to opening balances onto QuickBooks. I tried to explain, I think I saw some document related to this fear but cannot locate it. I keep telling them as long as my end of the year equals my beginning of the year no problem. I also said you can do it journal entry related or another way that is pretty simple as long as you have done the chart of accounts correctly. Please advise or direct me to a spot that can better explain why people tend to have a problem with these issues.
