QIF import - how do I set opening balances?

[Doug Laidlaw]

On Wed, 28 Oct 2009 02:34:18 pm Twyla wrote:
> I've imported my extensive QIF file (stocks, bonds, REIT, insurance, etc)
> with the beginning date of July 1, 2005. How do I set the opening balance
> on each of the accounts? Thank you for any help.
> Twyla

In each account, pass an entry dated the opening date.  The Account to show is 
Equity:Opening Balances.  Watch your debits and credits!  It helps to set your 
View first to Auto-Split Ledger so that you can see what you are doing, but not 
necessary.  That setting is done again for each account.

Insurance is usually an expense.  If it was an account before, then you know 
how to handle it.  Quicken treats expenses as categories, not accounts.  There 
was a discussion a while back about what to do with your brought forward 
revenue balances; check the mailing list archives.  They should be zero at the 
beginning of your fiscal year.

HTH,

Doug.