CHANGING OPENING BALANCE

When you reconcile the bank account for the first time, the beginning balance is supposed to show 0.00.  This is because QuickBooks assumes you started with a zero balance until you made your initial deposit (which you did when you posted your beginning balance, using Opening Balance Equity as offsetting account).

Simply enter the statement's ending balance in the Ending Balance field, enter any service charges or interest income, using the appropriate accounts (such as Bank Service Charge for the service charge and Interest Income--as an Other Income type-- for the interest).  Then click Continue.  You will see listed in the Deposits and Credits the amount you recorded as your beginning balance.  Be sure to check it off when you check off the other transactions appearing on your bank statement.  If you have recorded everything correctly, including any previously uncleared transactions that may now be showing up on the current bank statement, you should come to a zero difference which means you are ready to click on the Reconcile Now button and print out your Reconciliaiton Reports (I highly recommend you print out the Detail Reconciliation Report, especially if you are using QuickBooks Pro).

Andrea