When you do a transfer transaction using Bank Transfer Form (Create + sign > Other > Transfer), transferring funds from one account to another, you do not see a field where you can apply a class and a division on the transaction. This may be very critical data to run reports. If this information is… Continue reading How do I apply a Class or a Location Tracking to a Bank Transfer transaction? I need to run Balance Sheet by Class/Location.
If the opening balance in one of your Balance Sheet accounts is wrong, you can open the register of that account and correct it from the Chart of Accounts. From the home page screen: Go the Company Gear icon (upper right corner) and click Chart of Accounts under Settings. Highlight the name of the account, then click… Continue reading My opening balance is incorrect? How do I edit it in new QuickBooks Online?
As a general rule, you will use the Equity accounts for one other side entry. What you have are a possible two options. If you are transferring, opening balance from all the Balance Sheet accounts (assets and liabilities), use Opening Balance Equity (under Equity type) account. Opening Balance Equity Account will Net out to zero… Continue reading How do I transfer Opening Balance of Balance Sheet Accounts? What would be the other side of accounting entry?
Although there is no standard “Balance Sheet Detail” report in new QuickBooks Online, you can run and customize the “General Ledger” report which should reflect exactly like the “Balance Sheet Detail” report if there’s one such standard report. To run this report, from the home page screen Go to blue navigation bar on the left… Continue reading How to get a Balance Sheet Detail report that can be printed as one report in new QuickBooks Online?
There is no way to permanently delete accounts in new QuickBooks Online. You can make account inactive. That’s all in new Quickbooks Online. Best solution is to customize Balance Sheet report. Run Balance Sheet Click Customize Click Row/Columns Select Rows = Non-Zero Select Columns = Non-Zero Run Report Save Customizations button and save it as… Continue reading How to not display deleted bank account (like bank account > deleted) with zero balance on the Balance Sheet (or Profit and Loss) report?