Bank Balance

Hello, Jess57. 

You can start a new QuickBooks file from the existing one that you have. I got you covered in achieving this goal.

Creating a new company file from the current file allows you to copy and use accounts, lists (customers, vendors, items, etc.), templates, and preferences from an existing company file to get started.

The first thing that you need to do is to create a copy of an existing company file. Then condense the file to remove all the transactions. This gives you a basic framework to use for your new company file.

To do that: 

1. Open QuickBooks Desktop and the company file you want to copy.
2. Press F2 to open the Product Information window.
3. Look in the File Information section. This shows where your company file is saved on your computer.
4. If you haven’t already, follow the steps to back up your company file.
5. Use the backup to restore your company file.
6. Rename the file when you restore it. This creates a unique copy of your original company file.  Save the new file to a unique folder.

After that, you can now start removing the transactions that were copied. Know that QuickBooks may not be able to remove all of your transactions if you have payroll data for the current year. 

For complete steps on this process together with the limitations when condensing your data, please see this link: Learn how to use an existing company file to create a basic framework for new ones. 

Let me know if there's anything else you need, I'll be here to help. Have a good one and stay safe!

You can record a deposit on Jan. 1 to match the bank balance with the ending balance from Dec. 31.  When recording the deposit, use an equity account such as "Opening Balance Equity" in the 'From Account' field and put an explanation in the 'Memo' field as to why you entered it.