cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Get unlimited expert tax help and powerful accounting in one place. Check out QuickBooks Online + Live Expert Tax.
JoshBeall
Level 2

Change the opening date of a bank account?

If you've created a bank account with an incorrect opening date, is there a way to change that date? I linked a bank account during my QuickBooks Online account setup and it pulled in 90 days worth of transactions. I only wanted to pull in transactions since January 1.

 

I've tried to delete all the transactions prior to Jan 1, and changed the Opening Balance Equity transaction to Jan 1, 2022, but on the Business view, in the Overview page, when I choose the "Cash balance" on the "Cash flow" widget, it shows a cash balance starting in Nov:

screenshot1.png

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

However, I have zero transactions that are in any account register prior to Jan 1, 2022, as evidenced by this report:

 

screenshot2.png

 

My best guess is that somehow the Cashflow widget is checking my Opening Balance Equity account and pushing that amount out to Nov 15, 2021, when it thinks my first bank account was opened. So... is it possible to change that opening balance date? If so, how? And if that's not the issue, what's going on here?

1 Comment 1
RCV
QuickBooks Team
QuickBooks Team

Change the opening date of a bank account?

Let me help you with incorrect opening date on your bank account, JoshBeall. 

 

In QuickBooks Online (QBO) we can change the date by undoing the reconciled transactions. Please follow these steps:

  1. Click Accounting at the left panel and choose Chart of Accounts.
  2. Locate the account for the transaction and click View register.
  3. Look for the transaction that you want to undo reconciliation.
  4. In the check column, repeatedly click the top line of the transaction until the box is blank. This removes the transaction from the reconciliation. 
  5. Click the Save button.

 

To learn more about this one, see the Undo and remove transactions from reconciliations in QuickBooks Online article. Once done, you can now start the reconciliation again and enter the correct opening date. You can check the Reconcile an account in QuickBooks Online article for the steps and details. Just in case QBO doesn't match your bank statement at the end of reconciliation, follow the steps in the Fix issues when you're reconciling accounts in the QuickBooks Online article to troubleshoot the issue. 

 

If the opening balance for one of your accounts is wrong, we can edit it through the View register for the account.

To edit a wrong opening balance:

  1. Go to the Gear icon on the top menu then select Chart of Accounts.
  2. Locate the account, then go to the Action column and select View register.
  3. Find the opening balance entry. If you've got the Date column sorted from newest to oldest, the opening balance entry may be at the end of the list.
  4. Select the opening balance entry.
  5. Edit the amount. If you're not able to edit the amount directly on this screen, in some cases you can edit by selecting the Edit icon.
  6. Press Save. Your change will not be saved if you navigate away from the register without saving.

 

If there isn't already an opening balance listed and you want to enter one, checkout this article: How to enter an opening balance for an existing account.

 

Feel free to visit our Banking page for more insights about managing your bank feeds and reconciling accounts.

 

I'd like to know how you get on after trying the steps, as I want to ensure this is resolved for you. Please reply to this post and I'll get back to you. Take care always.

Get answers fast!
Log in and ask our experts your toughest QuickBooks questions today.

Need to get in touch?

Contact us
Sign in for the best experience
Ask questions, get answers, and join our large community of QuickBooks users.
Sign In / Sign Up