First, I have my Line of credit transactions being pulled from my bank. This is good. They all upload correctly to QuickBooks, good. When I go to the “register” it shows an “opening balance equity” account and has the initial amount of credit I was granted. My question is, should it be categorized as “opening balance equity”? Or should it be something else, and if so, what should it be? Also, it shows the amount initially granted For the line of credit as a payment, creating a negative balance on the register as the first transaction. Finally, this creates a negative balance “in QuickBooks” but a positive balance in “bank balance”. Both the exact same number.
What am I missing?
