Tracking the balance in your bank account is made simple with QuickBooks Online, especially if you've synced your account to the bank feed. I know how important it is to start your balance off properly, and I'd be happy to explain how you can change the beginning balance.
A beginning/opening balance is the starting point for the account in QuickBooks. It summarizes all past transactions in your real-life account up to the opening balance date. QuickBooks tracks all of your opening balances for all of your accounts in an Opening Balance Equity account.
To reconcile an account accurately, the beginning balance in QuickBooks Online has to match the beginning balance on your bank statement.
The opening balance on your statement is the total amount your bank has recorded for all the transactions in your account at the beginning of the statement period.
The way QuickBooks Online calculates the beginning balance for an account depends on whether the account has ever been reconciled before:
When your QuickBooks Online beginning balance doesn't match the bank statement's, it's called a beginning balance discrepancy.
Here's what to do if you're experiencing a beginning balance discrepancy in QBO: Fix beginning balance issues during your first reconciliation in QuickBooks Online.
I hope this helps get you back on track. If you have any further questions or need a hand with this process, please don't hesitate to reach out to our tech support team. An agent will be happy to walk you through it.
Have a great day.