![]() Yes, I am aware of the purpose of the income and expense accounts, and how they normally function. Should you need any further assistance getting your Chart of Accounts straightened out, please don't hesitate to comment below. I'm always here to help you. You'll also find helpful articles in this link that will surely help you get started with QuickBooks Desktop. These accounts simply track your earnings and spending.įor more information, refer to this article: Enter an opening balances for an account in QuickBooks Online ![]() Lastly, you don't need to enter the opening balances for income or expense accounts. If you don't have an accountant, we can help you find one. If you're unsure or have questions, I'd suggest reaching out to your accountant. These are the assets, liability, equity accounts. ![]() This way, QuickBooks matches your bank records from the start.Īlso, be mindful of entering the opening balances for accounts on your Balance Sheet. You enter your real-life bank accounts balances for the day you pick. When you're new to QuickBooks Desktop, you pick a day to start tracking your transactions. Allow me to provide some insights about entering opening balances in QuickBooks Online, Colt Acres. ![]()
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