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gedgar360
April 12, 2021
Question

opening bank balance problem

  • April 12, 2021
  • 1 reply
  • 0 views

Somehow my opening bank balance is $100. 

There is no transaction number or date.  How do I eliminate or reverse this?

1 reply

A
Alex M
April 13, 2021

Hi there,

 

Making sure your opening balance is correct is an important part of making sure your books are set up correctly. QuickBooks Desktop is a great tool to help you with managing your company's financials. I can provide some assistance.

 

One way to reverse this would be to make an opening balance journal entry to reverse that amount. You can accomplish this by navigating to the Company menu, then select Make General Journal Entries. Select the bank account you want to affect for the first line then select opening balance equity in the second line. Enter the amount you wish to modify and then save. Here's an article on how to fix beginning balance differences in QuickBooks Desktop.

 

I would also recommend speaking to your accountant about this difference, as they may be able to give you the best advice on how to affect that difference. If you would like to find an accountant near you, you can check out our find an accountant site.

 

I hope this helps you get your opening balance correct, if you have any more questions, feel free to reach out here. 

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gedgar360Author
April 13, 2021

Thanks Alex, but this is not helpful.

As stated, there is no entry to reverse. 

We have tried to "edit the account" but the "Change Opening Balance" is shaded out and not available. 

Too bad.

Looks like this is a QB software issue not an accounting issue.

Can anyone help??

L
LauraAB
April 13, 2021

Hello gedgar360,

 

I appreciate the clarification and can definitely see how not having an opening balance entry to reverse would complicate the situation. It could very well be that there's an issue in QuickBooks Desktop that needs addressing, and it's important to me that this is addressed.

 

The troubleshooting step I recommend taking here is to check for data damage to the company file. Since you're seeing this amount with no related entry you can find, it could be that there's a display issue causing this balance or hiding the entry it's related to. The following article walks you through the steps to see if there is damage to the company file and how to solve it if there is: Fix data damage on your QuickBooks Desktop company file

 

For further assistance with this, please contact our support team outside of this community forum. This'll give our team the opportunity to take a closer look at this with you to track down what's causing this opening balance. The article Intuit QuickBooks Desktop software support policies outlines the ways you can get in touch with support as well as other important details.

 

Don't hesitate to give us a shout.

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