Can anyone assist me please, I have a client that's been using Shopify since 2019 or prior. We created and setup her QuickBooks account starting in 2020 when she didn't have her Shopify deposits connected to her business account. We created manual journal entries to input the shopify revenue and fees based on the Finance Summary reports.
Well now I have a balance in the Shopify clearing (asset account) on the balance sheet that I am not sure how to clear. Normally my thoughts are to clear when the deposits hit but since they weren't connected to this account I have no deposits to clear the balance with. Do I create a manual journal entry that will debit an equity account instead?