I'm thrilled to welcome you to the Community, Kathy. The decision between adding transactions via the bank feed or recording beginning balances depends on your specific business needs. If you want detailed records for prior months, the best approach is to review, categorize, and add those transactions into your QuickBooks Online (QBO) books. By doing so, you’ll have a complete, itemized record of all your business activity for the year.
However, please know that you can also opt to enter beginning balances, but this is most applicable if you have a clean start and have just started your financial year and want to avoid entering numerous transactions.
While it takes more time upfront, it ensures your data is complete and accurate in QBO, making things like tax filings and reporting much easier. You’ll be able to reconcile accounts, track past obligations, and keep everything organized without missing anything.
To further enhance your QuickBooks experience, our QuickBooks Live Expert Assisted team is here to guide you on the best practices for handling prior transactions.
Don't hesitate to reach out to us here in the Community if you have further questions. I'm always here to help.
