Turn on suggestions
Auto-suggest helps you quickly narrow down your search results by suggesting possible matches as you type.
Showing results for
I can tell why the opening balance of the supplier is categorised under an expense account, rajeevbehal1.
The expense account is selected as the default account when the QuickBooks Online subscription is created. It appears in the Debit column on the transaction journal and can be edited once the original transaction is created.
Income and Accounts Payable (A/P) or Trade and other Payable accounts are impacted when you enter an opening balance of a supplier. And, AP will be impacted by this entry until the bill is paid.
To edit the expense account that the opening balance is assigned to:
To keep track of your payables, please browse this article: Enter bills and record bill payments in QuickBooks Online. It provides instructions and detailed steps to guide you through the process.
Keep me posted if there's anything else I can help you with managing the opening balance of the supplier. I'm always around to guide you.
You have clicked a link to a site outside of the QuickBooks or ProFile Communities. By clicking "Continue", you will leave the community and be taken to that site instead.