Hello,
I am not an accountant, have no bookkeeping training and have DIY experience only. I am putting my books on Quickbooks (have been recording everything by pen and paper for 6 years). I've entered all opening balances from my balance sheet from my last year end. Do I also need to enter opening balances on accounts such as sales, postage, advertising etc. off of my income statement from last year end?
Thank you.
J.
I am not an accountant, have no bookkeeping training and have DIY experience only. I am putting my books on Quickbooks (have been recording everything by pen and paper for 6 years). I've entered all opening balances from my balance sheet from my last year end. Do I also need to enter opening balances on accounts such as sales, postage, advertising etc. off of my income statement from last year end?
Thank you.
J.