This 2-part workshop has been thoughtfully prepared and recorded – and you can access it immediately. Upon purchase, you’ll receive a link to download a pdf document that gives you immediate access to both online recordings and related handouts. ….$47 Opening Balances: 
" /> Creating Accurate Opening Balances (1500/Level 1) - Build Your Numbers

Creating Accurate Opening Balances (1500/Level 1)


Add to Cart (click picture)

This 2-part workshop has been thoughtfully prepared and recorded – and you can access it immediately. Upon purchase, you’ll receive a link to download a pdf document that gives you immediate access to both online recordings and related handouts. ….$47


Opening Balances:  Getting Started with the Right Numbers
Primary & Detailed Opening Balances

Approximately 22 min for Part I, 85 min for Part II (107 minutes total).

Part I:

  1. Opening balances prep checklist
  2. Before you start
    • Starting date and historical information needs
    • Detail from prior system
    • Temporary accounts
  3. What you’ll do:
    • Balance sheet opening entries
    • Profit & Loss opening entries
    • Checking results

Part II:

  1. Review of prep steps
  2. Primary balances:
    • In depth example:  Entry of primary Balance Sheet account balances
    • In depth example:  Entry of primary Profit & Loss account balances
  3. Detail entries and actions for Balance Sheet balances
    • Outstanding checks and deposits
    • Prior-period reconciliations for bank accounts
    • Accounts receivable detail and aging
    • Employee advances
    • Accounts payable detail and aging
    • Prior-period reconciliations for credit cards
  4. 1099 Year-to-date entries
  5. Job income detail entries
  6. Job cost detail entries
  7. Exhibit:  Primary balances entered before detail entry

Learn how to access all of these workshops + live monthly QuickBooks coaching and training