Can I reconcile a statement without matching individual sales invoices which all occurred before the official startup date, to a lump sum transfer into the bank account?
I have a new QB online client who has given me bank statements that show lump sum transfers that are comprised of sales invoices from the period before the startup date of the business. Do I need to match these invoices to the lump sums showing on the statements to complete the reconciliation or can I treat the lump sum transfers as startup money and simply void or exclude the previous sales transactions or even just leave them alone and do nothing with them? The client is not registered for HST. Any help is much appreciated. Thank you.