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Level 1

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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Level 2

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.

View solution in original post

5 Comments 5
Highlighted
Level 2

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.

View solution in original post

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Level 1

How do I change opening balance on bank account register

Thank you, it worked, much appreciated
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Level 2

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.
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Level 1

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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Moderator

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.