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jvazzo-cfofactor
Level 1

How do you enter trial balance beginning balances?

I am converting from a manual system.  I need to enter the trial balanve to begin using quickbooks but accounts like land and buildings will not let me input a value.
1 Comment 1
AdonL
QuickBooks Team

How do you enter trial balance beginning balances?

Hello and welcome to the Community, Jvazzo. I'm here to help you enter a trial beginning balance to QuickBooks Online(QBO).

 

One reason you can't input a value could be the account type. Specific account categories like Assets, which include Buildings and Land, do not allow entering values directly. 

 

As a workaround, we can use a Journal Entry to set the starting balance for these accounts. 

 

Here are the steps to create a journal entry:

 

  1. Go to + New.
  2. Pick Journal entry.
  3. Select the appropriate account under the Account column.
  4. Add a Description of what the journal entry is for.
  5. Choose Opening Balance Equity on the second row of the Account column.

 

I have included some screenshots for you to refer to visually.

image_720.png

image_720.png 

 

Moreover, refer to this article for additional guidance in applying the steps and entering Debits and Credits to keep things accurate: Enter an opening balance in QBO

 

Let me know if you have further questions about entering the beginning balance. I'm always here to help. Stay safe!

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