We are a new restaurant and I need to know how to enter the beginning balance for the banking info
How do i enter the beginning balance for a new company?
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04/22/10 1:45pm PDT
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Depends on what balances you want. You can enter the balances during the setup interview or directly into QuickBooks.
If you have an accurate trial balance from a previous month/year, enter it as one journal entry.
For the Checking account, enter only the reconciled bank statement amount in that journal entry, but do not enter any a/r or a/p amounts.
