Entering Opening Balance A/R
I started a new Quick Books and am confused on how to enter my opening balance for A/R from 2011.
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cIjK_OqIar4yUOacwZ5xHE
01/18/12 2:06pm PST
Viewed by asker 01/19/12 2:32pm PST
Viewed by asker 01/19/12 2:32pm PST
3 Replies
debra2112
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01/19/12 5:45am PST
The best thing to do is enter each outstanding invoice intact. It gets you some experience with setting up items, and provides much better tracking.
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01/19/12 1:51pm PST
If I enter as a invoice won't that record as 2012 sales? I want it to show as A/R's not a new sale on my Financials.
01/19/12 8:44pm PST
Latest post
if you enter an invoice dated 2011 it will report in income in 2011 on accrual basis, and in income on date of receipt on cash basis.
