New Beginning Balance for 2020 after a few years of transactions
Hello there, price0909,
Make sure the balance for the last day of 2019 totals the ending balance of your bank statement for the year 2019. Right after that, enter the opening balance of your chose date. You'll want to start in January 2020, so select any date from that month.
In QuickBooks Desktop, go to the Company menu and then select Chart of Accounts.
Right-click anywhere on your Chart of Accounts and select New.
Select Bank or Credit Card for the account type. Then select Continue.
Give your account a name. If you have multiple accounts of the same type or at the same bank, give them unique names so they're easy to tell apart.
Fill out the rest of the data fields.
Select Enter Opening Balance. Later on, if you need to edit your opening balance, the button will be Change Opening Balance.