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I do not want to connect it to my bank, but could not edit/change my opening bank balance in my chart of accounts. I was testing the trial software and now decided to officially use it, but could not change the opening bank balance in chart of accounts after my testing trial.
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Dear JamaicaA
Thank you for the directions and advice. I do not have an opening balance when I first created the Chart of accounts - bank. (As attached the screenshot).
Can I still use your method below? :
Let's go to your Chart of Accounts to edit the opening balance, evinna.
Opening balance equity is an offset entry used when entering account balance into the software. To modify it, follow the steps below:
If you forgot to enter an opening balance when you made an account, check out this article to create a journal entry to record it: What to do if you didn't enter an opening balance in QuickBooks Online.
For future reference, refer to these resources to organize your accounts:
Please don't hesitate to return to this thread whenever you have additional questions concerning accounts. I’ll be here to respond to you.
Dear JamaicaA
Thank you for the directions and advice. I do not have an opening balance when I first created the Chart of accounts - bank. (As attached the screenshot).
Can I still use your method below? :
Yes, you can use the method provided by my peer if you want to edit the opening balance amount, Evinna.
Since you don't have an opening balance yet, we can record it by creating a Journal Entry. After that, it's important to reconcile the journal entry to ensure it doesn't appear in a future reconciliation.
Pease refer to the Steps 2 and 3 in this article for more detailed steps: What to do if you didn't enter an opening balance in QuickBooks Online.
Remember to always reconcile your accounts to make sure they match your bank and credit card statements.
If you have further questions or concerns, never hesitate to leave a reply below. We'd be glad to provide the necessary help.
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