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December 20, 2021
Question

I manually changed the opening balance when I was trying to reconcile my bank account for the month of Oct. 2021. How can I change the opening balance

  • December 20, 2021
  • 1 reply
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1 reply

December 20, 2021

Hi there, userneelgoel08.

 

Thank you for visiting the QuickBooks Community. I'll be providing informaiton on how opening balance works in QuickBooks. Then, to ensure you'll be able to change the opening balance.

 

When you create a new account in QuickBooks Online, you pick a day to start tracking your entries. Then, you enter the balance of your real-life bank account for the day you pick. This starting point is the opening balance. It summarizes all the transactions that came before it. You enter the same amount in QuickBooks so everything matches your bank records from the start. 

 

Once the opening balance for one of your accounts needs to be changed, you can update it through the View register for the account.

 

Here's how:

 

  1. Go to the Gear icon ⚙️ and select Chart of Accounts.
  2. Locate the account and go to the Action column.
  3. Click View register.
  4. Find the opening balance entry.
  5. Choose the opening balance entry.
  6. Edit/change the amount.
  7. Select Save. Your change will not be saved if you navigate away from the register without saving.

 

You may refer to this article to view different details on how you can resolve various matters for accounts you've reconciled in the past: Fix issues for accounts you've reconciled in the past in QuickBooks Online.

 

You can always get back and comment below if you need further help with your opening balance entry. We're always here to help. Take care!