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My Discover card import did not include a starting balance, how can I correct this?

 
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QuickBooks Team

My Discover card import did not include a starting balance, how can I correct this?

Hello @glenh,

 

Thank you for posting your question in the Community. I'd be delighted to assist you with correcting the starting balance for your Discover card. 

 

Since the import process didn't bring over a starting balance, you will need to manually record it. You can record a starting balance using a journal entry with the following steps:

 

  1. Click the Plus icon and select Journal Entry.
  2. Enter the Journal date.
  3. On the first line select the Account. In this instance, it will be your Discover card. 
  4. Include the starting balance amount in the Debit or Credit column, as this will depend on the account type. For a credit card, enter the opening balance in the Credit column.
  5. Select the Opening Balance Equity account in the Account column on the following line.
  6. Enter the starting balance amount in the second line in the Debit or Credit column, which will be the opposite of the one selected on the first line. 
  7. Click Save

 

I've included a video to serve as a visual guide for entering a starting balance for a credit card with $2000:

 

 

Additionally, I recommend the following article as it provides further information about this, as well as steps for reconciling the starting balance transaction: How to Enter a Beginning Balance for an Existing Account

 

That's it. I'm confident that you'll be a pro at starting balance entries in no time. 

 

This Community is dedicated to helping, so please don't hesitate for a moment to let me know if you have any questions. Wishing you all the best. 

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