Client has old QBs Enterprise file with issues. It was decided to make a fresh QBE file with the new year. Lists have been exported successfully, accountant consulted on COA and opening balances on balance sheet items.
Issue:
Entering opening balances for customers. The thought was to enter an invoices dated 12/31/24 with balances for each customer. Payments recevied after the new year 1/01/25 will be applied to this invoice until previous balance is paid off.
Question:
If a new invoice is created, what "item" should be used? Should a special item be created called "Previous balance? If so, should it be called an non-inventory item or service.
Suggestions will be appreciated using this method or an alternative.
Thanks!
