QB Issue Resolution:

I never link anything to Opening Balance Equity. It’s bad enough that the programmers dump generic data there; why would I also use it?

The point of the file to start is to set up what you know applies; if this open AP or AR is from a prior fiscal year and you are on accrual basis, then you know this is from Real Equity; not OBE, but Retained Earnings or an Equity account you name Prior Year. Once a file is set up, if you used any of the functions that posted to OBE, you need to zero that out to real equity, anyway, so why also put your own Known entries there, just to handle that value again when you want to Zero out OBE; I put something I know in the right place the first time I handle it. And OBE, once a file is set up, is never used again.

If you are a cash basis entity, then None of this AP or AR has been reporting and it needs to be the Real Info. That can be the original items, or a generic Other Charge type that posts to Income (for invoices) and to real Expense, or using items, for AP. That’s because these are unpaid in the transition, and they need to be reported as Current Activity when they get paid in the QB file, now that you transitioned. It cannot be Equity if it was never reported.

Resolution for Issue 'What is the easiest way to create starting balances for AR and AP??' available: Yes (Solved).
Source: Intuit Community forum.

What is the easiest way to create starting balances for AR and AP??: this issue or error code is a known issue in Quickbooks Online (QBO) and/or Quickbooks. Support for this issue is available either by self-service or paid support options. Experts are available to resolve your Quickbooks issue to ensure minimal downtime and continue running your business. First try to resolve the issue yourself by looking for a resolution described below. If it is a complex issue or you are unable to solve the issue, you may contact us by clicking here or by using other support options.

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