Sallie, thanks for coming back to the forum. I'm here to assist you with displaying the opening balance in the View register.
Your real-world bank and credit card accounts should correspond with your QuickBooks accounts. I appreciate you following my colleagues' steps to help you isolate your issue. Since you don't see an opening balance, please take note of the date and amount of the oldest transaction in the account. Then, let's create a journal entry. I'll show you how:
- Click + New, then select Journal entry.
- Enter a date that is before the account's oldest transaction. It is the opening balance date.
- Select the dropdown menu on the first row of the Account column to choose the account for which you want to enter the opening balance.
- Add a note in the Description area to know why the journal entry is there.
- Choose Opening Balance Equity from the second row's dropdown menu in the Account column.
- Enter the balance of your real-life account on the date you selected as the opening balance based on your bank statements.
- Enter the debits and credits corresponding to the account type you specified in the first row.
- Hit Save and close.
Once done, let's mark the journal entry as reconciled. Please proceed with the following steps below:
- Select the Accounting menu, then choose Chart of Accounts.
- Locate the account and click View register in the Action column.
- Search for the journal entry you just created. Select it to expand the tab.
- Repeatedly click the box in the checkmark column until you see an R. This reconciles the journal entry.
- Select Save.
The opening balance is reconciled in your account now that you've made a journal entry. Hence, QuickBooks won't include it in further reconciliations and should bring your accounts into balance.
A well-organized and correct chart of accounts is necessary to maintain accurate financial records. Let's ensure any accounts that affect your Balance Sheet have an opening balance. This article teaches you how to generate and manage an opening balance for a bank, credit card, and other types of accounts: Enter and manage opening balances in QuickBooks Online.
Please get back to us if you have additional queries regarding your bank balance or any QuickBooks-related concerns. We're available 24/7. Keep safe!
