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Let me help you add opening balances for suppliers, alandcoca-gmail-.
In QuickBooks Online (QBO), it’s important to enter an opening balance when setting up a supplier. This is because the option to edit the supplier opening balance once you begin posting transactions is unavailable. Here's how to set up a supplier opening balance:
When entering an Opening balance during a supplier setup, expense and Accounts Payable (A/P) accounts are impacted. The Expense account is selected as the default account when the subscription is created. This appears in the Debit column on the transaction journal and can be edited once the original transaction is created. To edit the expense account that the opening balance is assigned to, just follow the steps below:
The Accounts Payable (A/P) appears in the Credit column of a transaction journal. This represents the business still has a credit note or balance due to the supplier. Then the Accounts Payable (A/P) will be impacted by this opening balance until the bill is paid.
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