You enter the balance of your real-life bank account for the day you pick. This way, QuickBooks matches your bank records from the start. This starting point is the account's opening balance. It summarizes all the past transactions that came before it. Here's ho...
Your accounts in QuickBooks need to match the real-life bank and credit card accounts you're tracking. When you create a new account in QuickBooks, you pick a day to start tracking transactions. Then, you enter the balance of your real-life bank account for...
Entering negative statement balances in QuickBooks is a fundamental aspect of the reconciliation process, allowing users to accurately reflect the financial state of their accounts. QuickBooks provides intuitive methods for entering negative balances, enabling users to maintain precise financial records and e...
When there's only a small amount left over, QuickBooks lets you create an adjusting entry. This forces your accounts to balance so you can finish your reconciliation. Consider this as an option when you can't find the source of the discrepancy and there's only a small difference...
That way you know which gift certificates/cards have been redeemed, what their balance is or which are still outstanding. In addition, if you were to track by "customer" you have to create a "customer" for each person you sell one to. This can make your customer list unnecessarily large...
When you categorize a refund to the same vendor and expense account, it will balance the vendor's account. You may also check this article on how to handle vendor refunds in QuickBooks Online: Enter a credit from a vendor. I've also added this resource that can guide you in ...
Allow me to chime in and provide additional assistance with any concerns you may have about the In-kind donations. I've taken time to read the thread starting from the top and found out that you're using the Desktop version of QuickBooks. Since you're generatin...
I thought this worked perfectly but now my vendor totals are off - showing a negative and an overdue amount so this option does not work to balance the account either. Quickbooks needs to create the ability to match a vendor credit to a credit card credi...
Since QuickBooks Online automatically adds the net income from the previous fiscal year to your Balance Sheet as Retained Earnings when you close your books, the transactions from the previous accounting period are off-limits and cannot be edited w...
Since QuickBooks Online automatically adds the net income from the previous fiscal year to your Balance Sheet as Retained Earnings when you close your books, the transactions from the previous accounting period are off-limits and cannot be edited w...