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Level 3

Dashboard shows the opening balance as sales

When we add opening balance for the customer , the dashboard shows this balance as sales , which should not be .

The opening balance JV is as follows :

DR     AR  10,000

CR             Equity opening balance .   10,000

 

So no effect on sales , Why the amount shows in the dashboard as sales ???

 

12 Comments
Moderator

Re: Dashboard shows the opening balance as sales

Good day, wkittani.

 

Thank you for the screenshot provided.

 

As I can see, you track the opening balance under Accounts Receivable (AR). That is the reason why on your dashboard it shows open invoices since AR directly associate on your income.

 

You can change this one on your Journal Entry.

 

I recommend to reach out to your accountant so he can check your Journal Entry.

 

Don't hesitate to post again if you have further concerns. I'd be glad to help.

Level 3

Re: Dashboard shows the opening balance as sales

The Journal Entry is correct , see attached ..

should not show in dashboard as income 

QuickBooks Team

Re: Dashboard shows the opening balance as sales

Thanks for getting back to us, wkittani.

 

My colleague AdrianRose_A provided youwith  the exact information. Once you enter an opening balance, it will create an invoice and the dashboard show as income. You can open your Profit & Loss to check if it posted to an income account.

 

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

ProAdvisor

Re: Dashboard shows the opening balance as sales

Yes, labeling this as Income is wrong. They should label this as Invoice instead of Income. (If you've created a sales receipt, it would not show up as Income at all. That's also pure Income).

 

Since you're using the A/R account as debit account, it assumes there is this open invoice created during the last 365 days and treats it as Income.his is how QBO is designed for Income graph data on the dashboard. It's also Intuit hard-wired to show for the last 365 days. You can't change it.

 

I see why you're having an issue with this. If you absolutely don't to like to see it, the only workaround is to change the Journal date to 1/1/2018.

 

(I'm not saying this is right or wrong. All I'm saying this is how the QBO dashboard is programmed at this time).

Highlighted
Level 3

Re: Dashboard shows the opening balance as sales

Thanks my dear for your inputs , i totally agree with what you mentioned , but the work around is not the right way to solve it i think , Each transaction should be entered on the same date it happened . 

Good to let technical team find a solution by excluding Opening balances from dashboard .

 

Level 3

Re: Dashboard shows the opening balance as sales

Thanks dear for reply .

 

The best way to solve this issue is to add new option of adding opening balances for all GL accounts , Customers , Vendors , inventory items , employees and the contra balancing account will be Equity opening balance  . 

This can be done by importing opening balances exactly like the way inventory items are imported with its cost.

ProAdvisor

Re: Dashboard shows the opening balance as sales

This issue is nothing new. In fact, this is among the Top 10 requested feature in QBO - Customizable Homepage Dashboard Screen.

 

Note: If you're talking about the proper way to enter an opening balance for A/R, you should create an Invoice as it originally happened again. That's how to get an accurate A/R in QuickBooks, especially if the books are on a cash basis. Don't write a Journal Entry for A/R, A/P or Inventory accounts.

Level 10

Re: Dashboard shows the opening balance as sales


@vpcontroller wrote:

This issue is nothing new. In fact, this is among the Top 10 requested feature in QBO 


Last week they deleted most of the +/- 60,000 previous requests, so we don't know what the top ones are any more.

 

https://feedback.qbo.intuit.com/

 

Strangely I see that now Custom Homepage is its own group, which I personally never use and don't see the point.   I use the other screen displays and run reports to get information, which are all of course totally customizable

ProAdvisor

Re: Dashboard shows the opening balance as sales

Yes, I submitted this request on 12/16/2016.

 

Customizable Homepage Dashboard Screen
http://feedback.qbo.intuit.com/forums/168199-quickbooks-online-feature-requests/suggestions/17456176...

 

It was listed as all-time top 10 QuickBooks Online Feature Requests with 2,053 votes and 347 comments before they closed down the entire suggestions board this month. Note: The ones you see right now is, it was actually posted by them as their own topics/ideas.

 

They say they do listen, right?

customizable_homepage_dashboard_screen_feedback.PNG

Level 10

Re: Dashboard shows the opening balance as sales

I personally hope they don't waste their time on customizing the home page.  There are many other things that really need to be done

Level 3

Re: Dashboard shows the opening balance as sales

I agree with you that NO Entry from GL should be passed on AR , AP < Employees , Inventory . 

It should be from the source it self , but Opening balances should have special treatment other than sales or purchase .

 

The should be an option for entering opening balances for everything and not to affect sales or purchases . 

QuickBooks Team

Re: Dashboard shows the opening balance as sales

Hi all!

 

We appreciate all your feedback with regards to the Dashboard in the Home page. Please continue to vote up the existing request submitted by one of our established contributors. The more votes it will receive, the more likely it will be implemented on future updates.

 

I'll be around if you have other questions. 

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