Opening balance problem
I have an account in QBO that is connected to a checking account. For some reason the opening balance shows as a very large number.
I found a helpful note in the forums: "Note: When you connect your bank, it automatically records a beginning balance based on how far back you downloaded transactions (usually 90 days back). If the account has any transactions prior to this time period, this automatically recorded opening balance may not be the correct beginning balance.". However, it doesn't seem to offer a solution.
1. disconnecting/reconnecting the account
2. Creating another bank account with an opening balance of $0 then merging this one into it
3. Creating a journal entry (which then throws everything off, since with the correct $0 balance everything balances)
Any idea what to do about this, I've looked everywhere trying to find the cause of this and my best guess is that its using the opening balance from the when the account was connected.