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jcandrews20
Level 1
posted
‎September 26, 2019 05:02 PM
last updated ‎September 26, 2019 5:02 PM

How do I change opening balance on bank account register

The opening balance on a client's bank statement is a nwgative amount. QB would not allow me to enter a negative opening balance. I have entered a nil balance. How do I change the opening balance to a negative balance

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Best answer September 26, 2019
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IntuitRealice
Level 2
‎September 26, 2019 05:02 PM

How do I change opening balance on bank account register

Hello jcandrews20,

I know an easy way to change the opening balance on your bank account in QuickBooks Online. You can create a journal entry to enter the negative amount.

Here's how:

  1. Go to the Plus (+) icon.
  2. From the first line choose the bank account and enter the amount on you Credit side.
  3. In the second line choose Opening balance equity and enter the amount on your Debit side.
  4. Click Save and Close.
For more information, you can check this article: Create a Journal Entry in QuickBooks Online.

Feel free to stay in touch with me by adding a comment below.

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8 Comments 8
IntuitRealice
Level 2
‎September 26, 2019 05:02 PM

How do I change opening balance on bank account register

Hello jcandrews20,

I know an easy way to change the opening balance on your bank account in QuickBooks Online. You can create a journal entry to enter the negative amount.

Here's how:

  1. Go to the Plus (+) icon.
  2. From the first line choose the bank account and enter the amount on you Credit side.
  3. In the second line choose Opening balance equity and enter the amount on your Debit side.
  4. Click Save and Close.
For more information, you can check this article: Create a Journal Entry in QuickBooks Online.

Feel free to stay in touch with me by adding a comment below.
Reply
jcandrews20
Level 1
‎September 26, 2019 05:02 PM

How do I change opening balance on bank account register

Thank you, it worked, much appreciated
Reply
IntuitRealice
Level 2
‎September 26, 2019 05:02 PM

How do I change opening balance on bank account register

Hello @jcandrews20,

You welcome, I'm glad this all worked out for you!

If you need anything else, feel free to keep in touch if you have any other questions.
Reply
rajesh5271
Level 1
‎October 30, 2019 06:35 AM

How do I change opening balance on bank account register

I need to correct the opening balance of a client. How do I do this? I am not am accountant.

 

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SarahannC
Moderator
Moderator
‎October 30, 2019 07:28 AM

How do I change opening balance on bank account register

I have a few steps to share with you to correct the beginning balance, rajesh5271.

 

First, you'll have to pull up the Reconcile Discrepancy report to find the transactions that are causing the discrepancy.

 

Here's how to run this report:

 

  1. Go to the Reports menu.
  2. Select Banking and choose Reconciliation Discrepancy.
  3. Choose the appropriate account, then select OK.

 

Once you identify the discrepancy, take note of the transaction date. Then, you can now proceed to correct the discrepancy.

 

  1. Back up the QuickBooks company file.
  2. Go to the Banking menu and select Reconcile.
  3. Select the appropriate account in the Begin Reconciliation window.
  4. Select Undo Last Reconciliation.
  5. Click Continue when prompted.
  6. Click OK.
  7. Then, close and reopen the Begin  Reconciliation window to correct the balance.

 

I'm looking forward to help you more with QuickBooks Desktop reconciliation.

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sam890940
Level 1
‎October 02, 2020 09:36 PM

How do I change opening balance on bank account register

Quickbooks account balance incorrect some facors causing changeability between your bank balance and aquickbooks report,missing debits and credits amd a wrong opening balance and improper transctions input <a href="/thestandarddaily.com/quickbooks-account-balance-incorrect/"">quickbooks-account-balance-incorrect</a>

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Candy70
Level 1
‎January 08, 2023 08:29 PM

How do I change opening balance on bank account register

The (+) icon from what screen???

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Maybelle_S
QuickBooks Team
QuickBooks Team
‎January 08, 2023 10:12 PM

How do I change opening balance on bank account register

Hello there, @Candy70.

 

Are you referring to the steps in creating a journal entry? If so, let me show you how.

 

  1. Go to the +New button.
  2. Under Other, select Journal entry.
  3. Choose the bank account from the drop-down arrow.
  4. Enter the amount in the Credit section.
  5. In the second line, choose Opening balance equity and enter the amount on your Debit side.
  6. Hit Save and close.

 

For more information, visit this link: Create a journal entry in QuickBooks Online.

 

I'm adding these articles for future reference:

 

 

Keep me posted if you have follow-up questions about creating journal entries. I'm always right here to help you.

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