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

MaryP808
MaryP808 Member
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?

Best Answer

  • MontanaKarl
    MontanaKarl Member, Windows Beta, Mac Beta Beta
    edited January 25 Answer ✓
    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.
    Quicken Windows and Mac subscription • Quicken user since 1990
    iMac Pro, macOS Ventura 13.2 • Windows 10 via Parallels Desktop 17

Answers

  • MontanaKarl
    MontanaKarl Member, Windows Beta, Mac Beta Beta
    edited January 25 Answer ✓
    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.
    Quicken Windows and Mac subscription • Quicken user since 1990
    iMac Pro, macOS Ventura 13.2 • Windows 10 via Parallels Desktop 17
  • MaryP808
    MaryP808 Member
    Thank you for your help - and yes, I ended my QBO subscription as I retired! The good and the bad! Many thanks