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Join nowI am attempting to use QuickBooks again after a failed attempt a couple years ago. Apparently, when I installed the program, it still has a bank balance from when I last left off. At least that's what I'm guessing. I would like to change the beginning balance to my ending balance from Dec 2019 statement. How do I best remedy this? The balance is less... I would like to just have a fresh start. TIA for any advice!
Hi there, mom13.
The Beginning Balance is the net of all previously cleared transactions. Any changes, deleted, or added transactions can affect the balance. That doesn't make the Bank account wrong; it affected Cleared Status. With that being said, you can edit the amount to correct the beginning balance and to have a fresh start.
Here's how:
I've also attached some articles you can use to help you get familiar with QuickBooks, as well as how to connect your financial institution to download transactions and reconcile account:
Feel free to come back to the Community if there's anything else I can do for you. I'll be glad to help. Have a great day ahead.
I do not have an 'Enter beginning balance' button when I try and edit the account. Please advise!
Hey there, @ARich77. Glad to help out here.
If the account already has a beginning balance transaction, you'll have a button that says, Change Opening Balance instead. That will bring up the register and go to the existing Opening Balance transaction for you to make edits.
For more information on opening balances, check out: Enter opening balances for accounts in QuickBooks Desktop
Please touch base with us here if there's anything else you need, I'm determined to ensure your success. Have a great weekend!
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