Getting Started

Hi there, @DavidCB1971. 

Thanks for choosing QuickBooks for your business. I'll be your guide today in entering an opening balance after you already created an account to track transactions in QuickBooks. 

We can create a journal entry for this. Here's how: 

1. Click the + New menu, then select Journal entry.
2. Enter a date that comes before the oldest transaction in the account for the opening balance date.
3. On the first line from the Account dropdown, select the account you want to enter the opening balance for, then add a note in the Description field so you know what the journal entry is for.
4. On the second line from the Account dropdown, select Opening Balance Equity.
5. Use your bank statements to enter the opening balance. Enter the balance of your real-life account for the date you picked as the opening balance. 
6. Then, enter the debits and credits based on the type of account you entered on the first line.
7. Select Save.

Here's an article for additional reference on this process: What to do if you didn't enter an opening balance in QBO.

For future reference, use this article to learn more about how to enter an opening balance for the bank, credit card, and other types of accounts.

Feel free to visit and post some more of your concerns here in the Community. I'm always around to be your QuickBooks guide.