Was this page helpful?
Thank you!

Comments or suggestions?



Enter Email Address (optional)
email

Fix a vendor's opening balance

Choose one of the following:

The vendor's opening balance is incorrect

The vendor's opening balance is missing

To do this task
  1. Go to the Lists menu and click Chart of Accounts. Shortcut

  2. Scroll through the list and select Accounts Payable.

  3. Click Activities at the bottom of the list and click Use Register.

  4. Select the vendor's opening balance transaction in the register.

    Opening balance transactions may be among the earliest entries in the register, depending on when the vendor was added to QuickBooks. How do I find the vendor's opening balance?

    1. Scroll to the top of the register and select the first entry.

    2. Click Go to.

    3. In Which Field select Payee/Name.

    4. In Search For select the name of the vendor.

    5. Click Next to find the first entry for the vendor. The words Opening balance appear in the Memo field.

  5. Change the amount in the Billed column if this was a balance owed, or the Paid column if this was a credit balance.

  6. If needed, you can adjust the Date.

  7. Click Record.

To do this task
  1. Go to the Lists menu and click Chart of Accounts. Shortcut

  2. Scroll through the list and select Accounts Payable.

    What if I don't see Accounts Payable in the Chart of Accounts?

    If you don't see Accounts Payable, it may be that it hasn't been created yet. QuickBooks creates this account for you the first time you open the Enter Bills window.

    To create the Accounts Payable account without entering a bill:

    1. Go to the Vendors menu and click Enter Bills.

    2. Close the window.

  3. Click Activities at the bottom of the list and click Use Register.

  4. Enter the Date for the opening balance.

  5. Select the vendor.

  6. Enter the Due Date.

  7. Enter the opening balance amount in the Billed column if this is a balance owed, or the Paid column if this is a credit balance.

  8. In the Account list, select an expense account (for a balance owed) or income account (for a credit) to assign the opening balance to.

    If you're unsure which account to use, select Uncategorized expenses.

  9. Type the words Opening balance in the Memo field.

  10. Click Record.

See also

KB ID# H_VENDOR_TROUBLE_OPENING_BALANCE
8/21/2014 11:00:10 AM
PPRDQSSWS406 9102 Pro 2013 229424