How do you edit a liability line item on the balance sheet?

I can think of two scenarios based on your statement, rlakhaniod. I’ll outline each one below to help you successfully edit a liability item on the Balance Sheet report.

When you say changing a liability line item on the Balance Sheet report, it's either you're referring to the drop-down title itself or the name of the account.

If your goal is to update the liability title drop-down (Liabilities and Equity and Liabilities), please note that these are default terms and cannot be changed.

On the other hand, if you want to modify the name of a liability account, go to the Chart of accounts menu and Edit its Account name. To do this, here's how:

1. Go to the Transactions menu and select Chart of accounts.
2. Locate the liability account you'd like to edit.
3. Select the dropdown arrow next to View register and choose the Edit option. 
4. Update the liability Account name and select Save.

After that, go back to the Reports menu to pull up the Balance Sheet report to see the updated name of the liability account.

Additionally, are you interested in obtaining a copy of your financial reports from QuickBooks for future use? For more details, please refer to this article: Export your reports to Excel from QuickBooks Online.

Moreover, did you know we have a QuickBooks Live Expert Assisted team ready to help you sort your transactions and manage finances? I encourage you to explore their services today.

Stay in touch if you have other reporting concerns or need further assistance managing liabilities in QuickBooks. We're always here to help.

@rlakhaniod-gmail 

Account balances on the balance sheet are changed by adding, editing, or deleting transactions that use the account. If the balance is wrong, fix it by fixing the transactions in the account (or adding new transactions) .

If you mean the line account's name, edit the account on the chart of accounts and change the account name.