Beginning Balance in new bank account

Hi there, 

I'm here to share more information about entering a beginning balance and how to fix the issue.

When there are transactions on the account, but you haven't entered an opening balance, the transactions will serve as the beginning balance. 

You can enter a beginning balance by creating a journal entry. Before doing so, you'll have to review the beginning balance. Here's how:

1. From the Accounting tab, select Chart of accounts.
2. Locate the account and click View register.
3. Search for an opening balance entry. In the Payee Account column, it should say Opening Balance Equity, and in the Memo column, it should say Opening Balance.

If you see an opening balance entry, don't go further. Take note of the date and amount. Use your bank statements to make sure the opening balance is correct.

From there, you'll have to create a Journal entry. Here's an article for the detailed steps of the process: Step 2: Create a journal entry.

I've also added this reference as your guide in reconciling the account: Reconcile an account in QuickBooks Online.

I'll be around whenever you have questions about managing balances.