Final answer:
The balances that should match in QuickBooks are the balances in the general ledger accounts.
Step-by-step explanation:
Once the QB file has been set up in QuickBooks, the balances that should match are the balances in the general ledger accounts. These balances represent the financial transactions and activities of the company and include assets, liabilities, equity, revenue, and expenses.
For example, the balance in the Cash account in QuickBooks should match the balance in the company's actual bank account. The balance in the Accounts Receivable account in QuickBooks should match the total amount owed by customers.
It is important to reconcile these balances regularly to ensure the accuracy of the financial records and to identify any discrepancies or errors.