Welcome to the Community, @scmccollum17.
Allow me to share some insights about your starting position in QuickBooks Online(QBO).
If the initial position pertains to the starting balance for income, expense, or bank accounts in QuickBooks Online, you can enter the balance and ensure that the starting date is set to 12/21/23. This process aligns your QuickBooks records with your bank transactions from the beginning and summarizes all prior transactions before the specified date
Here's how to enter your opening balance:
- Go to Settings and then Chart of Accounts.
- Find your bank or credit card account.
- Select the Action dropdown, then select Edit.
- Select When do you want to start tracking your finances from this account in QuickBooks? dropdown, then choose the date on which you want to start tracking your finances for the account.
- In the Account Balance field, enter the account balance for the date you selected.
- Select Save and Close.
For more detailed information about entering opening balances for accounts you can refer to this article: Import your chart of accounts to QuickBooks Online.
I'll include this article in case you want to learn how to set up and add accounts to your chart of accounts:
Add an account to your chart of accounts in QuickBooks Online.
If you have further questions about your opening balance, you comment below and we'll respond to you as soon as possible.
