How to enter post-audit BS accounts' beginning balances of 2021-12-31 when you already entered transactions for 2022?

kslover123 · ‎September 27, 2022

Hi,

We are switching to use Quickbooks online starting Jan 1st 2022.

We waited for a long time to get the audited balance sheet accounts balances.

How to enter post-audit BS accounts' beginning balances of 2021-12-31 when you already entered transactions for 2022? It seems once there are transactions entered in that BS account for 2022, you can't enter/update the opening balance of 2021-12-31.

Thank you in advance.

Jen_D · ‎September 27, 2022

I'm here to guide you how you can add your post-audit entries in QuickBooks, kslover123.

You can enter individual transactions as a journal entry, sales receipts or expenses depending on how they affect your bank account. You can check with your accountant to get further help with this process. Here's in the community, we can only provide the basic steps in QuickBooks but handling your books is best supervised by an accounting professional.

Additionally, you may refer to the steps in this article if you already reconciled previous months when the post-audit entries are to be recorded: Reconcile transactions that are older than your opening balance in QuickBooks Online.

Let me know if you need further guidances. I'll be right here to provide additional help and insights about this topic. Have a nice day!