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Determine the opening balance and "as of" date for a customer

The opening balance is the total amount a customer owes you in open invoices or statement charges as of the start date (the date you start tracking your finances in QuickBooks). When calculating this total, don't include:

  • Open invoices after the start date. You should enter these as separate invoices.

  • Customer balances that are made up of multiple jobs. Instead, enter the opening balance for each job.

To enter a customer opening balance

  1. In the Opening Balance field, enter the amount this customer owed you as of your start date.

  2. In the "as of" field, enter your QuickBooks start date. If the customer has open invoices dated after your start date, enter these as individual invoices, not as part of the opening balance.

Important: To keep your records up to date, you must enter all historical transactions from the day after your start date through today. For example, if this customer has open invoices dated between your start date and today, you must enter those invoices into QuickBooks. This gives QuickBooks the ability to provide full financial reports for your company for any period of time after your start date.

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