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I'm glad to assist you in entering a supplier opening balance in QuickBooks Online (QBO), @Michael385.
When linking a bank account or credit card to QBO, opening balances are crucial. They aid in ensuring that QBO precisely matches your bank records from the date you started.
If a supplier is newly created and has no associated transactions, enter the opening balance as a negative.
Here's how:
Otherwise, create a supplier credit to record what they owe in QBO.
Furthermore, you can run dozens of reports that inform you about the different aspects of your business.
Let me know whenever you have further questions. The Community is always available to assist you. Take care and have a good one!
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