Steps describing how to get initial account balances established within QuickBooks Pro. (Posted on 1/12/2006)
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Ensure company classes and sub-classes (if needed) have been established. This will enable us to post start up balances directly to the appropriate categories (i.e. soil test account, for-sale publications, etc.).
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Go to the Banking Screen and select "Deposit".
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Set Deposit Date to 1/1/2006 for Commissioners and Program Account or 11/1/2005 for 4-H Account.
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Select the "From Account" drop down menu and select "Balance Forward" for all start up balance entries.
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Select the "Class" drop down menu and select the appropriate class or sub class you desire to post a start up balance to.
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Post the appropriate start up balance in the "Amount" field.
- Click on the "Save and Close" button at the bottom right and you are done.
Note:
Refer to the "How To Post Balance Forward and Retained Earnings Journal Entries" to transfer end-of-year balances to the appropriate account classes beginning 11/1/2006 for the 4-H Account and 1/1/2007 for the Commissioners and Program Accounts. This "How To": is forthcoming.
