Clearing Account Conversion to QB from Another Software

Thank you for choosing QuickBooks Desktop, @NNeese.

I'm here to share with you some information on how to record or show the outstanding checks in your company file.

To start, you can either use the clearing account or create a new wash account first before recording the outstanding checks. This way, the amounts will not affect the opening balance of your account. Once done, here's how you can start recording them:

1. Go to the Banking menu, then click on Write Checks.
2. Choose the wash or clearing account on the Bank Account field.
3. Fill in the required details. If the checks are for this fiscal year, use the correct account, otherwise, use the opening balance equity.
4. Enter the amount.
5. Click Save and close.
6. Replicate the steps for the rest of the outstanding checks.

After that, you can see/review the transactions from the register.

1. Click Chart of Accounts from the Lists menu.
2. Locate the account where you've entered the checks.
3. Right-click, then tap on Use Register.

If you need additional assistance, you can as well reach out with a professional accountant. They can offer you some accounting advice to keep your financial records accurate.

While working with QuickBooks, please feel free to open the topics from our help articles in case you need related resources in the future.

I'm always here to help if you have any other questions. Just add a comment below. Keep safe!

HI Angelyn_T,

So you are saying there is no way to go around using an "Equity" account, even though we have Never used an "Equity" account with our wash bank account?

Thank you for getting back, @NNeese.

You can record the outstanding checks against the Equity account if you want to include them in your banking funds when transitioning into QuickBooks. Moreover, you can seek help from an accountant if you wish to use other accounts or need more options in recording the outstanding checks that best fits your business needs.

If you don't have one, you can get a free consultation through this link: Find an accountant or bookkeeper who loves your business as much as you do.

Please let me know there's anything else you need assistance with. I'm a few clicks away to help. Have a good one!

Hi again.

I am an accountant. Thank you for your response. I will look elsewhere for a Solution. It appears not many in the community use Clearing Accounts for writing checks and using only the Cash account for it.

Thank you,