To enter your beginning balances, you will need to follow the steps below:

1. Enter your Balance sheet accounts' beginning balances as of a chosen Effective Date. You can use GL journal entry to do this.
2. Then set up 2 accounts for your AR and AP—i.e., if your AR is 1200 subbed by 101, then the other account would be 1201 without a sub. The same thing for the AP, i.e., if AP 2010 subbed by 20, then the other account would be 2011 without a sub.
3. You will enter your AP balances only (no detail) to 2011. Enter your AR balance only (no detail) to 1201. (These accounts can be deactivated after the beginning balances are entered.)
4. Enter in AP detail through an Excel import or hand-keying the invoices. You will Credit 2011. This offsets the beginning balance that you entered into the 2011. The invoice date is the date of the actual invoice. The effective date is 09/01/2023. The due date is the date you want to pay the invoice.
5. Enter the AR through an Excel import or a Journal Entry. You will Credit 1201 and Debit the 1200 subbed by the owner. Add the invoice number as well.
6. You can enter the invoice date or all as of a chosen Effective Date. This offsets the beginning balance you entered in the 1201.

The system will create the balance forwards.

Steps 4 and 5: get your details in there for your AR and AP invoices.

See New Company Setup Checklist / Beginning Balance for more information.