Greetings, @Vitan.
I'll be happy to provide some clarification on this Opening Balance Equity issue. Rather than the worth of your business, Equity is more aptly defined as an individual's worth in the business. This is also often referred to as Capital. For example, if an individual invests $20,000 in the company but also brings in a $10,000 liability, their initial Capital is $10,000 (investment minus liability).
Is it possible to create an opening balance without affiliating it with another account?
QuickBooks Online uses double-entry accounting, so this initial capital is necessary for recording the Opening Balance of new accounts. Generally this only occurs when a new set of books is opened, as any accounts created thereafter can have both ends originate from within the business. For instance, a new bank account can have its beginning balance fed by transferring from an existing account or a loan will contribute its asset and liability simultaneously.
How does this represent my business's worth?
Remember that the Balance Sheet doesn't necessarily represent the wellness of your business, rather it proves that every balance has an origin and is equally and oppositely represented elsewhere in the records. Statements like the Profit and Loss that report income are more adequate for determining your company's success for a given period. Once your decided accounting period has ended and the books are closed, your Net Profit/Loss will flow into Retained Earnings and help balance your Owner's Equity. This way, even if you begin a period with negative equity, it will be increased if the business is doing well.
Much of this information is explained in detail in these resources and I strongly encourage you to check them out:
I also recommend getting in touch with an accounting professional for a personalized opinion. Every business is unique and they can make suggestions for handling those Opening Balances that are a perfect fit for your company. Look into the Intuit Find-A-ProAdvisor site to find certified professionals in your local area that are sure to have the answers you're looking for.
With this information, you'll be an Equity master before you know it. Please know I'm always available here for all of your questions and concerns. Thanks for reaching out, wishing you continued success.
