I'm late in starting Quick book experience and my new fiscal year. How do I enter last year's information to correctly start my new fiscal year and get my final opening balances. Please help me! I thank you greatly in advance.
Were you already using QuickBooks for last year? If so, there is no need to start a new year--you just continue with the same file.
If you're starting a new QuickBooks data file, then there are several steps to entering opening balances and open transctions as of the start date. There are several journal entries involved.
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