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OBE is a holding account that is used to accumulate the opening balances of the accounts when you set up QB for a company.
After all starting balances are entered, then you close OBE to the equity account with a journal entry
debit OBE
credit owner/partner equity
credit owner/partner equity (if there is more than one partner)
OBE is a holding account that is used to accumulate the opening balances of the accounts when you set up QB for a company.
After all starting balances are entered, then you close OBE to the equity account with a journal entry
debit OBE
credit owner/partner equity
credit owner/partner equity (if there is more than one partner)
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