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caroline23


Newbie

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opening balance
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Hi all I created a account for credit card as a bank account on quickbooks, i put the opening balance as credit 108 as thats how much they owed on 31st march (they moved to quickbooks 1st april), i then entered the entries for what they had spent in april, along with them paying off the previous months credit card bill 108, now when i come to reconcile the opening balance is 0 instead of showing they owe 108, can any help with this much appreciated! Caroline

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Cheshire


Master Book-keeper

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Hi Caroline
Not sure about how it works in Quick books but could be to do with dates used in paying off or did you allocate the paid off amount to the opening balance? You might need to show a print screen (with identifying features blanked out) of the said account and then the Quick books users might be able to help

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 Joanne 

Winner of Bookkeeper of the Year 2015, 2016 & 2017 

Thoughts are my own/not to be regarded as official advice,which should be sought from a suitably qualified Accountant.

You should check out answers with reference to the legal position
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