How to correct the opening balance of the bank when it is the first reconciliation of the bank and the bank register balance is correct but QBO is showing wrong op.bal?

Hello fahad-amir-oboxs,

Welcome to Community! QuickBooks Online provides the option to add or edit opening balances, so your bank and credit card accounts match your bank records.  I would be glad to help!

If you haven't reconciled the bank account, you can record the opening balance with a journal entry. Here's how;

1. From the left menu, open +New and select Journal entry

2. Enter a date that comes before the oldest transaction in the account. This will be the opening balance date.

3. In the first row in the Account column, use the ▼drop-down menu to choose the account you want to enter the opening balance for

4. Enter a note in the Description field so you know what the journal entry is for

5. On the second row under the Account column, select and choose Opening Balance Equity, from the ▼ dropdown menu 

6. Use your bank statements to enter the opening balance for your real-life account for the date you picked as the opening balance. You'll need to enter both a debit and a credit to keep things accurate. 

7. When you're ready, hit Save and close.

Next, you'll need to mark the journal entry as reconciled. The ensures it doesn't show up on future reconciliations. 

Follow these steps to reconcile the journal entry;

1. Go to your Settings ⚙ and select Chart of accounts

2. Locate the account and click on Account history in the Action column

3. Find the journal entry you just created, then click on it to expand the view

4. Select the box in the ✓checkmark column until you see an R. This reconciles the journal entry.

5. Hit Save.

Your account should be balanced and you can proceed to reconcile the account.

Feel free to reach out again, if you have other questions. We are always happy to assist!