Quickbooks questions · 🏠 Lower Taxes w/ Ryan

Quickbooks questions

sorry not trying to bug you but I’m not sure if my first post got through as I wasn’t at level 2. I’m trying to reconcile my quickbooks and business account and have a couple

of questions.

1. My business account started at $0, and my first deposit was $5,000 from my personal bank account.

QuickBooks has a -$75 Opening Balance Equity entry dated April 8, marked reconciled (R), even though I’ve never completed a reconciliation. My April 30 bank statement ending balance matches QuickBooks, and I’ve checked off all the transactions, but the reconciliation still shows a $75 difference.

Can you confirm whether I should correct or remove that opening balance entry so I can finish reconciling April?

2. how should I categorize deposits from my personal bank accounts. Since that’s not revenue from the business. It’s was just start up funds.

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Quickbooks questions