Hi Matar,
Thanks for getting back to me. In your situation, you'll enter the opening balance with a journal entry. Here's how;
1. Open + New, from the left menu and select Journal entry
2. Enter a date that falls before the oldest transaction in the account, for the opening balance date
3. In the first row under the Account column, select the ▼ dropdown menu and choose the account you want to enter the opening balance for
4. Enter a note in the Description field, as you feel necessary
5. On the second line under the Account column, choose Opening Balance Equity from the ▼ dropdown menu
5. Use your bank statement to enter the opening balance of your real-life account, for the date you picked as the opening balance.
6. Enter the debits and credits based on the type of account you entered on the first line
7. For Accounts payable, enter the Name of the supplier you owe money to
8. Enter the opening balance as a credit to increase the balance, or enter it as a debit to decrease the balance. Then, enter the same amount in the opposite column in the second row.
9. Hit Save and close
10. Go to your Chart of accounts and locate the Accounts payable account
11. Open the Account history located in the Action column
12. Click on the Journal entry to expand the view
13. Click on the box in the Checkmark column until you see an 'R' and hit Save
Your opening balance has been created and reconciled, so your account should be balanced.
Should you require additional assistance, please don't hesitate to contact us. With your consent, our customer Care team can work with you in real time, and ensure you're able to successfully enter an opening balance as soon as possible!
Schedule a Callback or start a Chat: click (?) Help in the upper right in QuickBooks Online > enter "Contact support" > hit Contact Us > provide a brief summary of your situation > hit Let's Talk > choose Get a callback or Start a Chat.
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I hope this helps! If you have other questions or concerns, we're here for you!
