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kmranjith
Level 2

When I import the A/R opening Balances using the Excel template the Credit is posted to the Sales Ledger instead of Opening Balance Equity Ledger

 
3 Comments 3
MadelynC
QuickBooks Team

When I import the A/R opening Balances using the Excel template the Credit is posted to the Sales Ledger instead of Opening Balance Equity Ledger

This is normal in QuickBooks, @kmranjith.


When entering opening balance to the customer, it will be added to Sales accounts by default.


If you want to have it on your preferred ledger, then you’ll have to create a service item and edit the income account to Opening Balance Equity. Let me show you how:

 

  1. Go to the Gear icon and click Products and services.
  2. Select New and then choose Service.
  3. Enter the necessary information in the fields.
  4. Under the Income account, select the Opening Balance Equity.
  5. Click Save and close.
    Capture.PNG


Once done, you can edit the invoices of your customers that have opening balances and use the newly created service. This is to make sure these events will fall under the Equity account.


You can use this reference to learn extra information on which default or special accounts in your Chart of Accounts (COA) can be modified or merged in QuickBooks Online. This way, you can manage them more efficiently.


Let me know if you have other concerns. My door is always open for those who need help.

kmranjith
Level 2

When I import the A/R opening Balances using the Excel template the Credit is posted to the Sales Ledger instead of Opening Balance Equity Ledger

Hi

I tried the steps you suggested. It still sits in the Income Statement. I have attached the Screen Shot for your reference.

 

Will await your response.

 

Thanks and regards

Ranjith

MichelleBh
QuickBooks Team

When I import the A/R opening Balances using the Excel template the Credit is posted to the Sales Ledger instead of Opening Balance Equity Ledger

Hello, @kmranjith.

 

Thank you for following the steps provided by my colleague above. Since the issue persists, I'd suggest calling our Customer Care Team. They have tools to investigate what's going on in your account in a private environment. 

 

Here's how: 

 

  1. Go to the Help (?) icon located on the upper right, then click Contact Us at the bottom. 
  2. Type your concern in the description field, then hit Let's talk
  3. Select the Chat button. 

 

       4. Complete the needed information. 

       5. Hit Submit

 

To guarantee we address your concern on time, our representatives are available from Monday to Friday around 9:30 AM to 6:00 PM, IST. 

 

I've attached an article that you might use in the future about how to edit, delete, deactivate, and add numbers to your accounts in QBO. 

 

 

I'm here anytime you have questions. You can reach out to me by clicking the Reply button below. Take care!