Hi there, dwolfe.
Thank you for posting here in the QuickBooks Community.
Yes, when you input a liability account, the opening balance equity is adjusted.
It won't clear at year-end and will calculate based on the recorded tax in your books.
I suggest consulting an accountant to confirm if there's a need to make changes to the journal entries.
I'll be glad to help you if you have any other questions. Have a good day!
