Opening Balance in QuickBooks

From High5Wiki
Jump to: navigation, search

SME uses Invoices and Payments to calculate customer balances. Customer balances entered into QuickBooks will need to be entered as invoices, as they are when the Opening Balance is entered when creating a new customer in QuickBooks (circled in the image below).


If you enter an opening balance for a customer in QuickBooks, after syncing the balance will carry over to SME and show in the Customer record > Accounts tab> Current field. When payment is received in QuickBooks for the opening balance, the payment will sync to SME and the amount in the Customer record > Accounts tab > Current field will be reduced by the payment amount.

If the opening balance is entered as a GL transaction, it will not sync properly with SME.