A Quick Guide to learn to enter opening balances for accounts in QuickBooks
When creating a new account in QuickBooks, the user is suggested to pick a day to start tracking all of the transactions. The user should enter the balance of the real-life bank account for the day that has been selected. This will let QuickBooks match the bank records form the start. The starting point here is the account’s opening balance. This summarizes all the past transactions that came before it. To learn the process to enter opening balance in QuickBooks, make sure that you read this article carefully till the end. Or you can also ask our QuickBooks support team professionals using our support number 1-800-615-2347, and they will come up with the most effective steps for you.
Steps to enter opening balance for accounts in QuickBooks
The below steps can be of some help in entering opening balance for accounts in QuickBooks. Let us check the steps out one by one:
Step 1: Enter an opening balance
The steps for the type of account the opening balance is for are listed below:
Bank or credit card accounts
Before creating a new account on QuickBooks chart of accounts, ensure to know what to enter for opening balance. The user can enter an opening balance for a real-life bank account you just created, or one that is already present.
At first, the user needs to get the bank statements or sign in to the bank’s website
And then, in QuickBooks move to the company menu and then choose chart of accounts
Right click anywhere on the chart of accounts and choose new
The next step is to select bank or credit card for the account type and also choose continue tab
The user needs to give account a name. in case the user is having multiple accounts of the same type or at the same bank and give them unique names so that they are easy to tell apart
After that fill out the rest of the data fields
And also, choose enter opening balance. In case the user requires to edit the opening balance, the button will be change opening balance
Once done with that, the user should choose save and close to record the opening balance
The user can enter an opening balance for a real life bank account that is created above. The user should also be careful entering the opening balances for accounts on your balance sheet. This includes fixed asset, equity, long-term liability, other assets, other current assets, and other current liability accounts. In case the user is unsure or have any queries, then it is suggested to reach out to the accountant. In case the user isn’t having an accountant, he/she can look for one.
The user can get the bank statements or sign in to the bank’s website initially
After that, move to the company menu in QuickBooks and then choose chart of accounts
The next step is to right click on chart of accounts and choose new
Choose fixed asset, loan, or equity. For other types of accounts, choose the other account types drop down and one of the types
Also, choose continue tab
Assign the account a name
Enter rest of the details
And also select enter opening balance
After that choose save and close tab to record the opening balance
Income and expense accounts
The user need not to enter opening balances for income or expense accounts. These accounts simply track the earnings and spending.
Step 2: Check the opening balance entry
After entering the opening balance, move to the account register and ensure it is appropriate.
Here, the user needs to move to the lists menu and choose chart of accounts
Look for and open the opening balance equity account
Also, check the account balance
In case the balance isn’t 0.00, then need not to worry. The user simply needs to write down the remaining balance. Then run a balance sheet report for last year.
The user needs to move to the reports and hover over company and financial
And choose balance sheet standard
The next step is to select last fiscal year form the dates dropdown
Check the retained earnings balance
Compare last year’s retained earnings balance with the remaining balance in the opening balance equity account
Entering opening balances for accounts in QuickBooks can be a little easy, once the above stated steps are performed properly. However, if there is any query or if for some reason the user isn’t able to perform the required steps, then in that case give us a call at 1-800-615-2347, and we will be there to come up with the best possible assistance immediately.
Facing QuickBooks error 213 and unable to decide what to do? Well, not to worry anymore, as we have come up with this article, where we will be talking about the causes and fixes of the Rebuilderror 213 in QuickBooks. Error 213 indicates that the data contains the duplicate list of elements. This error code is seen when the user runs the verify data utility. It also appears when running, installing windows startup or shutdown, monitoring when and where such an error happens.
To know more about eliminating QuickBooks error code 213, make sure to read this article till the end. Or you can also contact our QuickBooks support team at 1-800-615-2347, and let them resolve the issue for you.
What leads to QuickBooks Error 213?
The user can end up in QuickBooks error 213, due to the following reasons:
The most important reason can be if the framework is having an issue
Another reason can be if there is incorporate off base client input
Also, if there are faulty passage of non-existent projects which are as a rule because of disgraceful programming uninstall
Moreover, if there is missing records that were unintentionally removed from the registry
Select that specific view and click on all employees, customers, and vendors
Open the list menu for all other names, custom message and accounts
Ensure about all things, proceed further to open and edit the window by clicking on twice
Settle down the account, in case any duplicate account name found
Choose the specific account and click on edit tab
To make this special, check the features like punctuation, capitalization, and spacing to change the name
Click on ok tab to save all new changes
If you wish to end any other copied list item that is set up in the qbwin.log file
When you edited all items, click on file tab
Choose utilities and enter and verify data
Conclusion!
Fixing the QuickBooks error 213 might be easy, if you follow the steps discussed in this article. However, if the error persists for some reason, then it is suggested to talk to our QuickBooks support team at 1-800-615-2347, and let our QuickBooks professionals perform the issue for you.
by QB | Last updated On : Sep 12, 2023 | QuickBooks
Are you seeking to create a new QuickBooks company file from an existing one? Here is the complete guide that you can follow so as to create a new QuickBooks company file. This can be a time-saving technique as it can create a basic framework of the new company files which would comprise accounts, different types of lists, templates, and preferences. Users don’t need to start the company files from scratch but should simply copy and use accounts lists, templates, and preferences from an existing company file to start with.
The process requires the creation of a copy of an existing company file and then condensing the file to remove all the transactions. This will give a basic framework to make use of the new company file. Keep reading this segment to unleash the entire process to create a new QuickBooks company file from an existing one.
Before starting with the process of creating a new QuickBooks company file from an existing one, make sure to go through the below pointers one by one:
You should also note that QuickBooks might not be able to remove all of the transactions in case you have the payroll data for the current year.
Another essential point can be if you use QuickBooks-assisted payroll, then we suggest you to consult some professional before starting with the steps
If you are making use of QuickBooks payroll, direct deposit, e-file, or e-pay, then it is suggested to ensure that the subscription is only active for one company
When should I create a New QuickBooks company file from an Existing One?
The user should create a new Company file from an existing one in the following situations:
Slow performance of QuickBooks and recurring freezing of QuickBooks especially when accessing the company file.
Surpassing the List limits
Corruption in the company file data
Conversion of Inventory items to non-inventory items or vice versa
Procedure to Create a New QuickBooks Company File in QuickBooks Desktop Enterprise, Enterprise Accountant, or Premier accountant
QuickBooks Enterprise or Accountant users have a composite feature which can help them create a new company file from existing one in no time. The process is presented in a schematic order below:
Begin by heading to the File menu, and when reached there, opt for the “New Company from Existing Company File” tab.
The next step is to tap on Browse and soon after, choose the Company file to be copied.
Now, open the company file and then give a suitable name to this name.
Assign a name to the copy of the company file.
After that, click on the Create Company option.
You should also note that QuickBooks copies the preferences, sales tax items, memorized reports, and chart of accounts to the new company file. This won’t bring over bank or credit card accounts, ad would not copy sensitive information.
Walkthrough to Create a New Company File from an Existing one in QuickBooks Desktop
The procedure below should be adhered to for the easy creation of a new company file from an old one. Before proceeding any further, first make sure that you take a backup of the company file data. Once that is accomplished, follow the steps given below:
Step 1: Creating a duplicate copy of the existing company file
This first step involves the creation of a copy of an existing company file. The steps are:
Run QuickBooks.
Move to the Report menu.
Opt for the report to keep a copy of:
Account balance: Choose the company and financial, then the balance sheet detail.
Customer balance: Pick customers and receivables and then select customer balance detail.
For vendor balances: You need to opt for the vendors and payables, and then the vendor balance detail.
Just in case you wish to customize the reports to better fit the needs.
On the report window, it is suggested to select the print drop down
From where, you can select print, if you want to keep a physical copy of the report.
Choose the Save as PDF option in case you wish to have a digital copy.
Step 2: Export the lists from the old company file
You need to enter each of the lists manually. And can also export the accounts and lists from the old company file and carry them over to the new one.
Step 3: Create a new company file
In this step, you need to open the QuickBooks Desktop.
And further, choose to Create a new company in the No company open window.
You will see two options:
Either select Express start or start Setup, in case you want to start straight away. You will have to enter the business name, industry, and business type to create the company file. You can enter the information later on.
Else, select the Detailed start tab to complete setup so all of the information is in from the start.
You are then required to follow the prompts that appear on the screen so as to Finish setup. You should note that if you have an existing company file in QuickBooks, then a unique name should be assigned to another one.
Step 4: Import the lists and enter the beginning balances
In the new file, you can import the lists and enter the account’s initial balances. You are first required to import the accounts and lists. And also enter the beginning balances.
Step 5: Examine the Accounts
Condensing the company file should remove the transactions. To get this double-checked, just Run a Transaction List by Date report and check if the transactions got removed.
First step is to make a move to “Reports menu”, and from there, tap on the “Reports Center”.
The following step is to search for the “Account and Taxes” section.
Upon locating that, proceed by opening a “Transaction List by Date report”.
Change the date range for the report in such a way that it begins before the oldest transaction of the copied file.
Check if all the transactions got removed.
The file is now ready for incorporation of new data and is as good as new.
Step 6: Set up online banking, payroll, and other services
Under this, you should set up bank accounts for bank feeds.
Also, set up Intuit Data Protect so as to back up the new file.
That was all you needed to know so as to create a new QuickBooks company file using an existing one. For any queries, comments, or concerns, call our QuickBooks desktop support team at +1-800-615-2347!
by QB | Last updated On : Feb 24, 2023 | QuickBooks
Whenever installing new software in the system, it is necessary to look for all the system requirements for that software. The same is the case with QuickBooks and you should check for the minimum system requirements before purchasing the QuickBooks version. This Intuit QuickBooks has been serving over 29 million businesses in the United States and thus, it is necessary for them to use with the right configuration.
This article will help you in understanding the system requirements for different-different versions of QuickBooks desktop. Also we will familiarize you with the latest system requirement for your QuickBooks software. However, if you have any doubts or want a consultation from the experts, then we recommend you to get in touch with our certified professionals.
System Requirements For QuickBooks desktop 2022 and It’s all Versions & Editions
Operating Systems
Windows 10: All editions with 64-bit and Natively Installed
Windows 8.1 (update 1): All editions which include 64-bit, Natively Installed
Microsoft Windows 7 SP1: All 64-bit edition and Natively Installed
Windows Server 2016
Windows Server 2012 R2
Microsoft Windows Server 2011
Windows Server 2008 R2 SP1
Database Servers
For Windows: Windows Server 2016, Windows Server 2011, Windows Server 2012 R2 and Windows 8.1 (update 1) or Windows 7 SP1 (Enterprise and Professional editions only), also Windows Server 2008 R2 SP1, and Windows 10, natively installed.
Linux: -Only installation: OpenSuse 42.3, Fedora 27, Red Hat Enterprise 7 when you using QBES Database Server.
Browser Requirement: Internet Explorer 11 (32 bit)
Hardware and Operating System Requirements (Client and Server)
2.4 GHz processor Minimum
4GB RAM minimum and 8 GB RAM Recommended
Server RAM Requirements
8GB RAM: 1-5 Users
12GB RAM: 10 Users
16GB RAM: 15 Users
20+GB RAM: 20 Users
Disk Space
2.5 GB disk space
Additional Software is provided for Microsoft .NET 4.6 Runtime on the QB CD 60MB.
Intuit Data Protect in QB Connected Services offerings
Minimum 4 GB RAM
Twice the size of the largest file for backup or restore is required.
Windows:
When using US QuickBooks Software, US version of Windows is required
When using Canadian QB software, make use of the Canadian version of Windows.
Regional setting is supported when set to English with keyboard setting to US/CA only
Administrator rights will be required while hosting Multi-user access on server computer
Higher with up to 2 Extended monitors or 1280 x 1024 screen resolution
Default DPI Setting.
Software Compatibility
QuickBooks is quite compatible with users and allows them to interact with third-party applications. Integrations for this with QuickBooks are below:
Microsoft Office
Office 2016 including Outlook 2016 on 32 and 64 bit.
Office 2010 and Office 2013 and 365 both on 32 and also 64 bit (including Outlook 2010 and Outlook 2013)
Gmail Estimates, Invoices and other forms with Microsoft Outlook with office 365, Microsoft outlook 2010-2016 and other support to Gmail, Yahoo! Mail and Outlook.com.
Microsoft word 2016, 2013, or 2010 or Office 365 (includes 64-bit) for preparing letters
Microsoft Excel 2016, 2013, or 2010 or Office 365 (Includes 64-bit) to export reports
Outlook 2010 (32-bit) to contact Synchronization with Microsoft Outlook.
Requires QB contact Sync for Outlook synchronization Outlook.
QB Point of Sale Version 18.0 and Version 12.0 (applies to US only)
System Requirements For QuickBooks Desktop For Mac 2020, 2021 and 2022
QuickBooks for Mac (US Only)
Minimum System Requirements:
MacOS 10.12 (Sierra) ad should be supported by macOS 10.13 and macOS 10.14
2GB RAM ( 4GB Recommended)
Product registration
250 MB disk space should be available
CD/DVD Drive for download installation
Printer to print invoices, checks, etc.
Use intuit checks
Intel processor (Core Duo 2 or higher) is required
Integration/Compatibility Requirements:
To export data, Microsoft Excel 2016 or later, Apple Numbers v3.5, including Mac Office 365 are required
Apple Mail, Microsoft Outlook 2016 or later, including Mac office 365, almost all support to Email is required for Emails
Intuit Merchant Services for QB for Mac is required in order to accept debit and credit cards.
Integrating Processing Payroll: Requires a paid subscription, EIN and Internet access for QuickBooks for Mac.
To print checks and forms in QB payroll for Mac, Adobe reader and printer would be required because of the basic needs of the system. (Additional fees apply)
Top pay may differ from those of QB. even more, details visit the website at www.macpayroll.com and www.matrix.com
A one-way conversion is being supported by QBD for Mac 2019 in QuickBooks online and the same is also supported from QBD for windows 2016 to 2018
Supports Round- Tripping with QuickBooks for Windows 2019 and later as it is a better option to send data file to Accountant.
The blog will be quite useful for you to find the minimum system requirements for QuickBooks desktop. If you wish to seek more help or guidance, connect with our QuickBooks desktop support experts at toll-free number.
A Guide to Combine two or more QuickBooks reports from multiple QuickBooks desktop company files:
QuickBooks is advanced accounting software that is highly regarded by millions of business owners in the United States, Canada, and all across the world. Its features like integrating reports make it all the more interesting and user-friendly. One of the highly appreciated features of QuickBooks is that it allows the user to merge two or more QuickBooks company files. A user can easily combine financial reports from different company files. In this article, we are going to explain the ways for merging/combining the reports from multiple company data files in QuickBooks. It is highly reliable to combine the reports from Multiple companies features enable a user to create a report for combining several balance sheets which you can transfer to the Microsoft Excel spreadsheet file.
If you have any questions about this topic, feel free to send a support request from here or you can contact to our dedicated technical support team.
How to Customize QuickBooks Desktop Custom Reports?
Some basic part for the simple data about reports in QuickBooks Desktop is below described:
Understanding Between Two or More Several Accounts:
One of the main tasks for performing the combined reports is completely understandable. If you are acquainted with this or you can simply understand the several data then you can simply check the needed information for the completion of a task.
Maintain Report for Orientation:
After checking the whole information, the next thing is to organize the data as it is needed.
Modify Reports:
If you are willing to make any kind of changes in the information as per the requirement then it is an imperative part.
Mark Comment:
To make your information effective as well as favorite then you can simply comment.
Built and Organize Regular Reports:
One of the most imperative things is to classify the data and it also needs to be scheduled.
Important Points to Note
To combine the reports some of the below points are required to remember:
The report is required to be much simple for reading as well as in creating a profile in several company files as almost similar.
The reports are required to be combined if they contain appropriate data in an identical way such as name, type, and alike gradable level.
Below are some valuable points which tell that accounts will not be combined if:
If they contain dissimilar property and assets.
There is some difference in alphabetic character.
Account mismatch.
If one user has a dissimilar report and the other has distinct data.
Reports are categorized into different types. The Details are to be selected in some order of what has been done in the chosen company file within each report. If the account appends by others in sequence after that they are encountered.
If you chose to log in to your file and also want to switch them to various users so as to accommodate the merging routine.
Steps to Combine Two Companies Into One in QuickBooks Desktop
Option 1: Combine Reports in QuickBooks Desktop Enterprise (Built-In)
A few main features of built-in combines reports in QuickBooks desktop enterprise:
If you are having any built-in function in any of the fields then you can simply perform several complicated tasks with utmost ease. Likewise, QuickBooks enterprise also offers a built-in feature for merging various company files.
Note that, QuickBooks enterprise allows you to combine reports from multiple company files. These include:
Standard of record
A conclusion of the balance sheet
Financial loss amount and profit
Category of profit and loss
Comment on the cash flow
Check on balance
For Combining the Reports:
Initially, you need to choose combine reports from multiple companies from the reports menu.
Moreover, opt for add files option, then locate the other company file and choose open. Repeat the same process for additional files.
Now, under select reports for combining, choose the reports you wish to combine.
Heading forward, pick the report from and to date range and also go for a report basis.
You now have to hit on combine reports in excel. A Microsoft Excel spreadsheet will show up with the combined information.
Option 2: Use a Third-Party Software
If you agree to use third-party software then you can simply pinpoint various programs that work with QuickBooks. Some of these programs offer important information to make the additional data from various corporate files.
Option 3: Manually Export Reports From Each File and Combine Them Using Microsoft Excel
You can simply transfer the reports by following some of the given steps and merge reports through Microsoft Excel:
You need to initially access the first company file.
Now, on the select report, you are supposed to export to an Excel worksheet and save the workbook.
You are then required to access your second company file.
Furthermore, create the same report and then export to an excel worksheet in the same workbook and also choose the save tab.
You now have to launch Microsoft Excel and open the workbook.
Later on, combine the two reports into a third worksheet manually.
We hope that this article assisted you to integrate QuickBooks reports. In case the issue persists or you need further assistance regarding the process to combine two or more QuickBooks reports, you can speak to our 24×7 QuickBooks support team. Whatever, your QuickBooks issue is, our professionals have the capability to root out all the technical problems encountered while using the QuickBooks accounting software.
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