Skip to main content
Mar 28, 2020 3:21 PM UTC
Solved

Hi, how do I add an opening balance to a bank account, i moved accounts from sage and it pulled over the last 6 years? but I need a balance from June 19

Original commenter did not share additional details
GraceCAnswer
Mar 28, 2020 7:04 PM UTC

Hello there, @primrosebookkeep.

 

You can add an opening balance to your bank account in QuickBooks Online through a bank deposit as explained below or by creating a journal entry against the bank account on line 1 and the opening balance equity(sometimes named retained profits balance forward) chart of account.

 

Here's how:

  1. Go to +New, then choose the Bank Deposit.
  2. Select the correct bank account.
  3. Backdate the deposit to reflect the opening balance.
  4. Leave the Received From blank.
  5. In the Account field, select Opening Balance Equity.
  6. (Optional) Enter a memo, such as "Opening Balance".
  7. Enter the appropriate amount.
  8. Select Save.

For more reference, you can check out this article: Entering a bank account opening balance.

 

Please let me know if you're referring to something else or have other questions. Have a good day!

1 reply

GraceCAnswer
Mar 28, 2020 7:04 PM UTC

Hello there, @primrosebookkeep.

 

You can add an opening balance to your bank account in QuickBooks Online through a bank deposit as explained below or by creating a journal entry against the bank account on line 1 and the opening balance equity(sometimes named retained profits balance forward) chart of account.

 

Here's how:

  1. Go to +New, then choose the Bank Deposit.
  2. Select the correct bank account.
  3. Backdate the deposit to reflect the opening balance.
  4. Leave the Received From blank.
  5. In the Account field, select Opening Balance Equity.
  6. (Optional) Enter a memo, such as "Opening Balance".
  7. Enter the appropriate amount.
  8. Select Save.

For more reference, you can check out this article: Entering a bank account opening balance.

 

Please let me know if you're referring to something else or have other questions. Have a good day!