
Enter and manage opening balances in QuickBooks Online
by Intuit•1084• Updated 3 days ago
When you first add a real-life bank or credit card account to QuickBooks, you enter the account balance on the day you started tracking it in QuickBooks. This helps keep your QuickBooks accounts a match for your bank records.
If you connect your bank and credit card accounts, we add up the transactions you’ve made since the date you picked and use them to get your opening balance. But if you don’t, you can do so manually.
If you’re confused, visit one of these links to create a new account in a safe test environment before you do so for your company.
- QuickBooks Online : https://qbo.intuit.com/redir/testdrive
- QuickBooks Online Advanced: https://qbo.intuit.com/redir/testdrive_us_advanced
Note: If you’ve already created an account without an opening balance and want to add one, you can add an opening balance later with a journal entry.
The QuickBooks design has been updated! If this video doesn't match what you see in QuickBooks, use the in-app Search bar to navigate to the page you need.
Find flexible solutions for your growing business with QuickBooks Advanced. With unlimited chart of accounts and up to 25 users, you have room to grow. Learn more about QuickBooks Advanced today.
Enter an opening balance
Follow this link to complete the steps in product
- Select New.
- Name your account and select Bank, Asset, Credit card, Liabilities, or Equity, then select the appropriate type of account from the Detail dropdown.
- If this account is a subaccount, check Make this a subaccount, then choose its Parent account.
- Enter the Opening balance of your account on the starting date you enter in As of.
- (Optional) Add a Description to add extra information about this account.
- Select Save.
Next steps
If you need to check what you entered later, find the Opening Balance Equity account in your Chart of accounts. Follow this link to complete the steps in product .The Opening Balance Equity account tracks the opening balance for all your QuickBooks accounts.
Related links
You must sign in to vote.
Sign in now for personalized help
See articles customized for your product and join our large community of QuickBooks users.
Find the right fit for your business
![[object Object]](https://digitalasset.intuit.com/content/dam/intuit/sbsegcs/en_us/quickbooks-online/images/SDR-qbo-rightrail.png)
Choose from plans and features to fit your business needs with QuickBooks Online.
More like this
- Enter opening balances for accounts in QuickBooks Desktopby QuickBooks
- Reconcile transactions that are older than your opening balanceby QuickBooks
- Manage outstanding balances for customers and vendors in QuickBooks Onlineby QuickBooks
- Fix issues the first time you reconcile an account in QuickBooks Onlineby QuickBooks