Journal Entries or how to deal with balances from a QBO account (Q Mac)

MaryP808

I converted to Quicken in May last year, so am missing Jan - April entries from QBO. What's the best way to add the data (details not necessary) to each account?

MontanaKarl

If you don't need the details, presumably just setting the May opening balances to the correct amounts is enough?

If what you want is the totals for the year per category (account in QBO lingo) to be right, then you can make fake entries for the period Jan-April (or per month if you want monthly comparisons) that give the total income/expense per category with a fake payee like "Misc Income".  Just generate a P&L in QBO that gives you the missing account totals for that period.  Sounds like you ended your QBO subscription, and if so, then I don't know what you'd do?  Last May would have been a good time to ask, sadly.

Note there is nothing quite like journal entries in a cash flow system like Quicken.  QBO and the general QB family are double-entry accounting where journal entries are another fish.

MontanaKarl

If you don't need the details, presumably just setting the May opening balances to the correct amounts is enough?

If what you want is the totals for the year per category (account in QBO lingo) to be right, then you can make fake entries for the period Jan-April (or per month if you want monthly comparisons) that give the total income/expense per category with a fake payee like "Misc Income".  Just generate a P&L in QBO that gives you the missing account totals for that period.  Sounds like you ended your QBO subscription, and if so, then I don't know what you'd do?  Last May would have been a good time to ask, sadly.

Note there is nothing quite like journal entries in a cash flow system like Quicken.  QBO and the general QB family are double-entry accounting where journal entries are another fish.

MaryP808

Thank you for your help - and yes, I ended my QBO subscription as I retired! The good and the bad! Many thanks