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January 21, 2021
Question

How can i change the opening balance

  • January 21, 2021
  • 1 reply
  • 0 views
before starting my posting i want to correct the opening balance

1 reply

January 21, 2021

Changing your opening balance is just a few clicks, @rsj5020.


Thanks for posting your concern on the Community page. I have instructions to share with you to correct the opening balance in QuickBooks Online.


Here’s how:

 

  1. Select the Gear icon at the top, then Chart of Accounts.
  2. Locate the account, then select Account history under the Action column.
  3. Find and select the opening balance entry.
  4. Click the Edit button and then change the amount.
  5. Click Save and close.


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.


You can check this article for more information on how to modify an incorrect opening balance in QBO. 


I’ve also added a link here about reconciling accounts. It has complete steps to ensure your bank and credit card statements are matched and accurate. 


If you have other concerns besides this beginning balance, just let me know. I’m always here, determined to resolution for you. Have a great day.