Skip to main content
E
Eugene Batalov
February 9, 2022
Question

Setting opening balances in QB

  • February 9, 2022
  • 1 reply
  • 0 views

I am putting the opening balances in QB. When I enter my bank opening balance, QB is entering an equity entry for the same amount. However, I have my own amounts for equity accounts.

1 reply

T
Trish_T
February 10, 2022

Hi Eugene Batalov,

 

Thanks for reaching out here.  It's essential that your opening balance is accurate so you can reconcile your accounts and keep your books aligned.  QuickBooks Online banking feature provides the option to add or edit opening balances.  I'll be happy to provide more insight here so you're able to reach your QuickBooks goals!

 

If you've already created an account, you can create a journal entry for the opening balance.  To assist you with your opening balance, please refer to the following articles that are great to have on hand for future reference as well.

 

Enter an opening balance for an account

If you don't see an opening balance, create a journal entry 

Fix beginning balance issues for accounts you haven't reconciled before

 

Should you require additional assistance, please don't hesitate to contact us.

 

Schedule a Callback or start a Chat: click (?) Help in the upper right in QuickBooks Online > enter "Contact support" > hit Contact Us > provide a brief summary of your situation > hit Let's Talk > choose Get a callback or Start a Chat.
Social Media: Facebook, Twitter, and Instagram.
Support hours are from Monday to Friday between 9 a.m. and 8 p.m. ET.

 

If you have any other questions, feel free to reach back out.  We'd be happy to help!

 

 

O
olengoulet
March 3, 2022
@Trish_T wrote:

Hi Eugene Batalov,

 

Thanks for reaching out here.  It's essential that your opening balance is accurate so you can reconcile your accounts and keep your books aligned.  QuickBooks Online banking feature provides the option to add or edit opening balances.  I'll be happy to provide more insight here so you're able to reach your QuickBooks goals!

 

If you've already created an account, you can create a journal entry for the opening balance.  To assist you with your opening balance, please refer to the following articles that are great to have on hand for future reference as well.

 

Enter an opening balance for an account

If you don't see an opening balance, create a journal entry 

Fix beginning balance issues for accounts you haven't reconciled before

 

Should you require additional assistance, please don't hesitate to contact us.

 

Schedule a Callback or start a Chat: click (?) Help in the upper right in QuickBooks Online > enter "Contact support" > hit Contact Us > provide a brief summary of your situation > hit Let's Talk > choose Get a callback or Start a Chat.
Social Media: Facebook, Twitter, and Instagram. io games
Support hours are from Monday to Friday between 9 a.m. and 8 p.m. ET.

 

If you have any other questions, feel free to reach back out.  We'd be happy to help!

 

 

That is very helpful! thank you

Terms & ConditionsAccessibility statement