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beginning balances

Hello,  I just got QB 2019 Premier and I need to add begining balances for customers... can you please help?

 

From google searches, it says go to "sales" on the left menu.  My left menu doesn't have "sales".

 

 

Solved
Best answer 05-02-2019

Accepted Solutions
QuickBooks Team

Re: beginning balances

Hi there, @JPLaw.

 

I'm here to help guide you add an opening balance for your customers in QuickBooks Desktop Premier.

 

If you're adding a new customer, you can add the opening balance in the Opening Balance section under the Customer Name. This opening balance creates an invoice posting to your Accounts Receivable and Uncategorized Income accounts.

k1 new customer add opening balance1.PNG

k1 transaction created2.PNG

However, if you're trying to add an opening balance to the existing customers, you must create an invoice transaction to add the balance. Let me show you how.

 

First, create an item with an Uncategorized Income account:

 

  1. On the QuickBooks homepage, click on the Lists menu.
  2. Select Item List.
  3. Click on the drop-down arrow beside Item.
  4. Click on New.
  5. Select Service as an item type.
  6. Add the item name and select Uncategorized Income beside Account.
  7. Click OK.k1 creating an item3.PNG

Once completed, create an invoice under your customers name, select the item created and add the opening balance/amount.k1 create an invoice4.PNG

 

After saving the invoice, the balance is now added to your customer/s.k1 opening balance added 5.PNG

On the other hand, you may check our QuickBooks Desktop help articles for you future reference: QuickBooks Desktop Help articles.

 

Please let me know if you have any other QuickBooks or adding opening balance questions, I'll be always here to help you. Have a great day ahead!

1 Comment
QuickBooks Team

Re: beginning balances

Hi there, @JPLaw.

 

I'm here to help guide you add an opening balance for your customers in QuickBooks Desktop Premier.

 

If you're adding a new customer, you can add the opening balance in the Opening Balance section under the Customer Name. This opening balance creates an invoice posting to your Accounts Receivable and Uncategorized Income accounts.

k1 new customer add opening balance1.PNG

k1 transaction created2.PNG

However, if you're trying to add an opening balance to the existing customers, you must create an invoice transaction to add the balance. Let me show you how.

 

First, create an item with an Uncategorized Income account:

 

  1. On the QuickBooks homepage, click on the Lists menu.
  2. Select Item List.
  3. Click on the drop-down arrow beside Item.
  4. Click on New.
  5. Select Service as an item type.
  6. Add the item name and select Uncategorized Income beside Account.
  7. Click OK.k1 creating an item3.PNG

Once completed, create an invoice under your customers name, select the item created and add the opening balance/amount.k1 create an invoice4.PNG

 

After saving the invoice, the balance is now added to your customer/s.k1 opening balance added 5.PNG

On the other hand, you may check our QuickBooks Desktop help articles for you future reference: QuickBooks Desktop Help articles.

 

Please let me know if you have any other QuickBooks or adding opening balance questions, I'll be always here to help you. Have a great day ahead!

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