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April 2, 2024
Question

When Opening balance is incorrect because it down loaded old transaction from Desktop to Online

  • April 2, 2024
  • 1 reply
  • 0 views

Ok the Opening balance does not match the fist bank statement. I know why is because I needed to start from 01/01/2024 and its is starting from 01/01/2023 with only half of the months in there. How do I just get it to start from 01/01/2024

 

1 reply

April 3, 2024

Let me share some insights regarding this matter, Candy. 

 

Since you already downloaded the transactions from QuickBooks Desktop (QBDT) to QuickBooks Online (QBO), you can edit the Opening balance equity in the Chart of Accounts to ensure that your opening balance and its date have the same detail as your bank statementYou can also consult your accountant for more accurate results. 

 

Here's how: 

 

  1. Go to the Gear icon and choose Chart of Accounts
  2. Find the account where you imported your transactions.
  3. Click the View register
  4. Find the Opening balance equity and click Edit
  5. Change the date or amount if needed. 
  6. Once done, press Save and Close

 

Afterward, you can reconcile an account in QuickBooks Online so they always match your bank and credit card statements. 

 

In case you'll encounter issues as you reconcile your account, you can use these links: 

 

 

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