New to quickbooks online...How do I correct an opening balance

Checking account was imported by QBO from QB desktop with reconciled data from 2017. The opening balance of checking account is incorrect. How do I adjust the entry.  Unsure of journal entry in QBO.  

Answer

Welcome to the Intuit Community, klprater43

Let’s go to your checking account and update the opening balance.

In QuickBooks Online (QBO), you can edit it through the Register for the account. Here’s how:

  1. Go to the Gear icon at the upper right.
  2. Under Your Company, select Chart of Accounts.
  3. Locate the checking account, then go to the Action column and click View register.
  4. Select the opening balance entry once you've located it.
  5. Edit the amount.
  6. If you're unable to edit the amount directly on the screen, you can edit it by selecting the Edit button.
  7. Choose Save.

I’ve attached screenshots below to show you the first three steps.

For more details, you can check out this helpful article: Edit An Incorrect Opening Balance.

If there isn't already an opening balance listed and you want to enter one, you can refer this article: Enter Beginning Balance.

If you’ll need to correct a beginning balance when reconciling an account in the future, you can visit these two useful articles:

That will help you achieve your goal, klprater43. Feel free to post again here in the Community if you need further assistance. Rest assured, we’re always here to help you out. Take care always!

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