Thanks for choosing QuickBooks Online, @SCB-31. I'm here to share some information on handling your accounts.
Every transaction you created has a journal entry. These transactions all get recorded in the company book or the general journal. To answer your question, we're unable to link it to the appropriate income account.
If you haven't connected your account to QuickBooks Online, you can manually enter the opening balance.
Let me show you how:
- Make sure you know the amount you need to enter for your opening balance.
- Go to Settings ⚙ and select Chart of accounts.
- Select New, then set up your account.
- In the open balances section, pick the date you want to start tracking your finances.
- Then, enter the account balance for that date.
- Click Save.
If you need to add transactions that are older than the opening balance, you need to edit the start date and balance. This sets a new starting point and prevents QuickBooks from counting transactions twice.
Here's how:
- Go to Settings ⚙ and select Chart of accounts.
- Locate the account and select View register.
- Find the opening balance entry. Tip: Sort the date column to show the oldest entries first.
- Select the opening balance entry.
- Edit the date, then the amount. If needed, select Edit to make your changes.
- Once done, select Save.
Now, if you're trying to edit an opening balance when reconciling an account with your bank or credit card statement, see fix an opening balance to match a bank statement.
I've also added this article about how to reconcile accounts so they always match your bank and credit card statements: Reconcile an account in QuickBooks Online.
Don't hesitate to reach back out if you require further assistance in entering the beginning balance. I'd be more than happy to assist. Happy Wednesday!
