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January 11, 2024
Question

How to enter the Opening Balance Equity?

  • January 11, 2024
  • 1 reply
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1 reply

January 11, 2024

Hi kathleenngibson@, thanks for posting on the Community

 

The opening balance equity account is a default account in QuickBooks Online. When you begin recording balances in your accounts, the opening balance equity account is used as the off-setting entry. 

 

Opening balances for accounts can be entered using a journal entry. If you need any further guidance using the opening balance equity account, please contact your bookkeeper or accountant for support.