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April 19, 2024
Question

How do I delete a bank that says Opening Equity Balance?

  • April 19, 2024
  • 1 reply
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1 reply

JaeAnnC
April 19, 2024

I'm glad you reached out to us, @jomoehle. Let's work together to delete the Opening Balance Equity transaction in QuickBooks Online (QBO).

 

Before doing so, it's important to note that the opening balance equity is essential to your books. It is a record of where the account started from, which affects your Balance Sheet.

 

If you wish to continue deleting the opening balance equity, you can follow these steps:

 

  1. Go to the Gear icon and select Chart of Accounts.
  2. Locate the account and click View Register.
  3. Select the Opening Balance Equity transaction and click Delete.

 

For more information, please refer to this article: Enter and manage opening balances in QuickBooks Online.

 

Furthermore, I'll share this article to guide you in reconciling your accounts in QBO to ensure they match your bank statements: Reconcile an account in QuickBooks Online.

 

Feel free to get back to this thread whenever you have other clarifications about the opening balance equity in QBO. The Community team is here to help you anytime. Keep safe.