Opening a New Quickbooks file.

Thank you for posting your concern with your QuickBooks Desktop query in the Community, Michael.

Based on the reports you have provided us, your income transactions fall under Donations, General, and Cash. If you wish to transfer them into another account. You can follow the steps below:

1. Click on the arrow beside Income.
2. Double-click on the amount to go to the specific transaction.
3. Tap on the dropdown arrow button, then select what account on the Item.

To view your Income or Expense account in a single line, you can collapse the information in your generated report by clicking on the arrow icon. If you want to see more details on where your account was categorized, you can click on the arrow icon again to expand the information.

I’ll be leaving you this article as your future reference if you want to learn about personalizing your reports in QBDT: Customize reports in QuickBooks Desktop.

Notify me by leaving a comment below if you have other questions about your reports in QBDT. I’m just a post away. Have a happy holiday!

Thanks for the response, but I don't think this is what I was looking for:
Old Company file - Donations, General Cash - $146,529.74

New Company File - Donations, General - (How do I get the above number entered into this new company file?) 

Since your Donation General functions as an income account, you don't need to match its figure from your old company file as it solely monitors your earnings, Michael. However, if you still wish to input its amount into your new company file, you can create a (lumpsum) journal entry for its opening balance. I'll assist you in completing this task.

Before doing so, I'd encourage you to work with your accountant to keep your financial data accurate. Whenever you're ready, follow these steps:

1. Go to the Company menu and select Make General Journal Entries.
2. Set the date for the journal entry. It should be the date you pick for the opening balance.
3. On the first line, from the Account drop-down, select the account you're entering the opening balance. Enter the balance for your real-life accounts for the day you picked. 
4. On the next line, select the Account drop-down and then the Opening Balance Equity account.
5. Enter the same opening balance amount in the opposite column as the first line. So, if you entered the first amount in the Credit column, enter the next one in the Debit column.
6. When you're done, select Save & Close.

Please note that if there's a left-over balance in the Opening Equity account, it should go to other equity accounts or retained earnings. Ask guidance from your accountant to move this money correctly.

To learn more about how to enter the startup balances for your other balance sheet accounts, you can read this article: Enter opening balances for accounts in QuickBooks Desktop.

Additionally, I'd encourage you to reconcile your accounts regularly (monthly) to monitor your income and expenses and keep them updated.

We're open 24/7, so please don't hesitate to visit us again if you need more help in managing your new company file and accomplishing your other tasks. Have a great day ahead.

Thank you for the advice. I think I figured most of it out with your help. So besides bank balances, what should I transfer over to the New Quickbooks file as we opened it on day 1 of our new FY. I realized things like donations and such would reset. So should it only be retained earnings? And any liabilities that we had as of the last day of our previous Fiscal Year? 

Let me share some information regarding this matter at hand, Michael. 

When opening a new QuickBooks file at the beginning of a new fiscal year, transferring retained earnings and liabilities serves the purpose of maintaining the continuity of your financial records and ensuring that the new file accurately reflects the financial position of your business. 

Retained earnings represent your business's cumulative net income or loss that has not been distributed as dividends. By transferring this balance to the new file, you carry over the financial results of the previous fiscal year, providing a starting point for the new year's financial activities. This helps maintain historical financial data and track the business's long-term profitability. 

Transferring liabilities from the previous fiscal year ensures that the new file accounts for all outstanding debts and obligations from the previous year. This is important for maintaining accuracy in financial reporting and ensuring that the new file reflects your business's existing obligations. 

I recommend consulting with your accountant or financial advisor to ensure that you're transferring the correct information and following appropriate accounting procedures. If you don't have an accountant, we can help you find one: Find Accountant

Additionally, to learn more about how to enter the startup balances for your other balance sheet accounts, you can read this article: Enter opening balances for accounts in QuickBooks Desktop.

In addition, here are some helpful articles that might be useful to you in the future:

• Reconcile an account in QuickBooks Desktop
• Fix beginning balance issues in QuickBooks Desktop

Don't hesitate to reach out to us anytime if you have further questions about managing your new QuickBooks file in QBDT. Best regards.