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belinda3
Level 1

I am trying to do an attorneys books on QBooks. Two bank accounts, a trust and a business account. I opened a customer and a supplier for every client(of the attorney).

How do I bring in the trust balances on Qbooks? Am I on the right track?
1 Comment 1
Mark_R
QuickBooks Team

I am trying to do an attorneys books on QBooks. Two bank accounts, a trust and a business account. I opened a customer and a supplier for every client(of the attorney).

I've got you covered, @belinda3.

 

You'll need to enter an opening balance for the trust account to bring up balances on your QuickBooks Online. However, I recommend seeking help from your accountant for more guidance. Here's how:

 

  1. Make sure you know the amount you need to enter for your opening balance.
  2. Click the Gear icon, then select Chart of accounts.
  3. Select New and enter the name of the account (Trust). 
  4. Choose the Account Type and the Detail Type from the drop-down.
  5. Select when you want to start tracking your finances.
  6. In the Balance field, enter the amount in the account, and determine the as of date. Enter today's date if you want to start tracking immediately.
  7. Click Save and Close once finished.

 

I'm adding this article for more details: Enter an opening balance for an account in QuickBooks Online.

 

Also, once you're ready to reconcile the business and trust accounts, you can read through this article for more guidance: Reconcile an account in QuickBooks Online.

 

Please let me know if you need clarification about bringing account balances. I'll be standing by for your response.