fiscal adjustmetns

Hello there, @clfp.

I appreciate you reaching out to the Community and providing a screenshot. I can help you remove the fake bills.

On the Pay Bills window, you have the option to filter the bills showing by selecting a specific date. You can use that as an option to lessen the list of open bills.

To remove them permanently, you can go to the Dummy Vendor profile and delete the transactions one by one.

1. Click Vendors.
2. Choose Vendor Center.
3. Select the vendor's name.
4. Go to the Transactions tab.
5. Open the bills and delete them.

That should save your time scrolling through the Pay Bills window, gb786.

Keep me posted if you have additional questions about paying bills. I'm still here to help you further. Just add a comment below or mention my name. Have a good one.

I appreciate your answer, but I already tried deleting these 'bills' and they just increase my payables - and they still show after filtering by due date, they were 'due' back in 2015-2018 

Did you ever find a solution to this problem?  I recently converted from Sage to Quickbooks also, and have the same problem.  I would love some advice on how to correct!

Thanks for joining the thread, @mcclin.

Allow me to step in and provide a little information about the bills to a dummy vendor.

When migrating from Sage to QuickBooks, all of the transactions from Sage will be transferred to QuickBooks. The possible reason why you can't delete the bills from dummy vendor is that the amount is positive amounts.

Just to clarify, are those bills have a purpose? If so, you don't need to delete them in QuickBooks instead you can just change the vendor name. 

Also, can you please provide a screenshot for the transaction journal of the bill transactions. This could help us verify if the amount of those bills are positive or negative amounts. Since bills are an expense, it should be recorded as a negative amount.

Please keep me posted on how things go with this. I'm here anytime you need further help.

Thank you for your help!  These are very old items that are coming up in the pay bills section.  When I go to an individual bill, it comes up as a deposit.  I tried to delete one, and it added the money back to a cash account.  (Yikes!)  I have attached a screenshot of the bills to be paid screen.

Here is a snip of one of the old bills I pulled up.

Hi there, @mcclin.

Thank you for providing me with screenshots of your bills. Let me guide you on how to delete these bills.

Just to make sure we're on the same page, is the bill showing as deposit already paid? If so, you'll need to open the transaction and delete it. Also, when you delete it, it'll reverse the transaction and increase the amount of your cash account.

To delete these bills, you may follow these steps:

1. Click on Vendors from the menu bar.
2. Choose Vendor Center.
3. Select the dummy vendor to view the transaction list.
4. Click on the bill and click on Delete.
5. Click on OK.

That's it! You've now deleted the bills.

Please let me know if you have other concerns. I'll be around to help you.

I do not want the cash account increased, because these are bills that have been paid.

I appreciate your prompt response, @mcclin.

Allow me to chime into this conversation and provide you with some clarifications about deleting bills in QuickBooks Desktop.

In QuickBooks Desktop, only payments can be linked to an open bill. In your case, you'll need to delete the deposit that is showing on your transaction journal so it won't be recorded as money in the transaction.

Once done, you'll need to write a check and use the fix unapplied payments which can help to assign the unapplied payments to the proper bill.

To do that:

1. Click on Accounts at the top menu bar.
2. Select on Client Data Review.
3. Choose Fix Unapplied Vendors Payments and Credits.
4. The account selected should be Accounts Payable.
5. Select the vendor on the list. The Bills and Charges tab will display any unapplied payments and credits and open the bill for that specific vendor. 
6. On the Bill and Charges tab, put a check-mark next to the payment or credit on the left pane, and place a check-mark next to the associated open bill on the right pane to apply the payment.
7. If you would like to apply only part of the credit or payment, enter the partial amount in the Amt to Apply column.
8. Click the Apply button to assign the payments or credits selected on the left to the selected open bill on the right. The items are then grayed out to indicate that you have already assigned them.
9. Click Save to begin working on another customer record, or Save & Close to complete the task.

That should do it!

Please let me know how it goes by leaving a reply below. I want to ensure you're taken care of. Have a good one.

I have the desktop version, so I dont think this is a solution for me?  I have tried deleting the transactions, it just increases my payable balance.  These transactions did not exist in SAGE, Quickbooks created these transactions when I imported the data.  they are from 2015.  when i open the transaction, they are credited to an account that quickbooks also created (i did not use nor did it exist in SAGE) called Opening Balance.  SAGE did not use Fiscal Adjustments- Quickbooks also created these journal entries for prior years while transferring the data.

Here are some new screen shots of some of the transactions.  These were never bills that needed to be paid, QB created these when it converted the data from SAGE.  
There was no such thing as a Dummy Vendor, Beginning Balance Equity or Retained Earnings in SAGE.  I dont know what data these entries came from?  SAGE will only let me access current year and 1 previous year of financial information.  I do have access to some archived financials that I found on back up disks.  but again, I wouldnt know what to look for in SAGE to compare to what Quickbooks created

Thank you for getting back to us, @clfp.

Thank you for the screenshots you've provided. These were very helpful for me to understand your concern further.

I'd love to provide some details about your transactions.

When importing from Sage, your old transactions were compressed into monthly fiscal adjustments.

This said, there's no need to delete the fiscal adjustments. They serve as a compressed record of all your previous transactions to correct your balances in QuickBooks.

Accounts such as Opening Balance and Retained Earnings are automatically created. These depends on the account you chose upon signing up.

You may also refer to this article for more information: Understand QuickBooks Chart of Accounts.

Please fill me in if you have any other concerns. I'll be around to help.

I kind of want to get of them, I am annoyed that they are showing up in my bill payment screen... they are not open invoices that need to be paid.  Why are they considered open invoices? 

Thank you for getting back to me, @clfp.

Let me provide more information about your fiscal adjustments and help you from there.

When you import transactions from other accounting software, your bills are separated from the payments.

In the screenshot you've provided above, your fiscal adjustments are associated with your accounts payable. This makes the adjustments show was open bills in QuickBooks.

To correct this, you'll need to look for the payments or transactions that match them.

Once you've located the transactions, you can then pay the bills, or in your case, adjustments.

Feel free to leave a comment below if you have any other concerns.

so how do i do that?  Everything i have tried has messed up my cash on hand or my payables balance

Hello there, clfp.

I appreciate you taking the time to reach back to us. I want this to be taken care of.

As what my colleague mentioned, since you're importing transactions from other software, your bills are separated from the payments. As recommended, you'll need to find those payments, change it to Accounts Payable and match it with the open bill.

You may consider going to your register to find those payments.  Let me show you how below:

1. Go to Banking.
2. Click Use Register.
3. Select an Account and click OK.

Once done, you'll want to link those payment to your open bills.

1. Go to the Vendors menu, then select Pay Bills.
2. Select the Bill/s corresponding to the Check.
3. Select Set Credits, then go to the Credits tab.
4. Put a check on the credit. Change the amount as needed.
5. Select Done, then choose Pay Selected Bills.

That's it. Don't hesitate to reach out to me if you have any other concerns about fiscal adjustments in QuickBooks Desktop.

I dont have an 'Opening Balance Equity' or 'Retained Earning' account listed in my list of account registers.  Is it the same register if i go into my chart of accounts and open the account?

i am sorry if i am not understanding your instructions.  this is all new to me and i am frustrated about how much extra data and accounts and 'stuff' qb created and added when converting the data.  it took me at least a week to correct payroll accounts and payroll taxes and correcting vendor information.  it was not pretty, i had to continue to use SAGE for almost 2 months while i was correcting employee data and everything else.  i am feeling that it would have been easier and less of a headache to just start over instead of importing/converting historical data.
i have attached some account entries for the 2 accounts i mentioned above

Hi there, @clfp.

Please allow me to join the thread and help you today so you'll be able to remove/delete the ancient bills created to a dummy vendor.

To remove your old/ancient bills, you must delete them one by one manually. On the other hand, if you're using QuickBooks Desktop Enterprise, you have the option to delete/void transactions by batch.

To learn more, you may check this article: Delete transactions by batch using Batch Delete/Void Transactions.

If the issue persists, I recommend reaching out with our Support Team to check and investigate this further securely. For the support's contact information, you may check it here: Contact the QuickBooks Desktop Customer Support Team.

You can always add a post/comment below if you have any other QuickBooks concerns, I'll be right here to help you. Have a good day ahead!

Did you ever find a solution to this issue? I just converted as well and I am having the same issues including reconciling.

Thank you 

Thanks for joining the conversation, jduncan8901.

Due to the differences in the platforms and nature of Sage and QuickBooks Desktop, there are transactions that may come in bulk.

As shared by my colleague Alessandra_B, during the import process, old transactions were compressed into monthly fiscal adjustments.

They serve as a condensed record of all your previous transactions to correct your balances in QuickBooks.

To correct this, you'll need to review the transactions in Sage and try matching them to the compressed entries in QuickBooks.

Then, do a mini-reconciliation to correct the Beginning Balance in the Begin Reconciliation window.

1. Go to the Banking menu, then select Reconcile.
2. Select the appropriate account from the Account drop-down.
3. Enter the statement date and ending balance that match your Journal Entry.
4. Select Continue.
5. In the Deposits and Other Credits section, select the corresponding Journal Entry.
   Note: The amount shown for the Difference should now be zero.
6. Select Reconcile Now.

Check out this article for additional details: Fix beginning balance issues in QuickBooks Desktop.

Let me know if you have any other concerns by posting a comment below. I’ll jump right back into answer you. Have a good one.

I just converted my company from Sage to QB Desktop and I am having the same issue.  I am going to try to clear out some of these transactions by dating them in my previous year.  I have created a bank account call clearing account, in hopes that I can zero out some of these old items that are now showing as not paid from 6 years ago.  These will be items that we made non cash adjustments to since sage will allow those things and QB won't.  I am in hopes that this works.  If you have any other suggestions on how you cleaned it up please comment back.

Welcome to the Community space, @NSRG. I understand your desire to seek help in clearing up the fiscal adjustments shown after converting your company file from Sage to QuickBooks Desktop. Allow me to share some information about this process.

I appreciate your effort in creating a clearing account to zero out old transactions from 6 years ago. Since this might affect your account balances, I recommend consulting your accountant. They can provide other ways to get rid of them, if necessary.

You can convert customer and vendor transactions. However, there may be cases where debtor or creditor entries do not post as expected. In such situations, the QB Conversion Tool may use a dummy customer or vendor to align your AR and AP history.

To learn more about the limitations of service when moving, refer to this guide: Convert from Sage 50 to QuickBooks Desktop.

In case you need to record or settle bills within the program, check out these resources:

• Enter bills in QuickBooks Desktop
• Pay bills in QuickBooks Desktop

This explains why there are fiscal adjustments from previous years. Keep me posted if you have other concerns about open bills or feature navigation in QuickBooks. I'll be here to help you.