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Discover the updated GST rates in QuickBooks Online Singapore Find out more

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JamaicaA
QuickBooks Team

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Let's go to your Chart of Accounts to edit the opening balance, evinna.

 

Opening balance equity is an offset entry used when entering account balance into the software. To modify it, follow the steps below:

 

  1. Go to the Transactions menu and hover your mouse over Chart of Accounts.
  2. Locate the Current asset account, then click Account history.
  3. Select the opening balance entry to expand and enter the amount.
  4. If needed, select Edit to make your changes
  5. Edit the amount, then Save.

 

If you forgot to enter an opening balance when you made an account, check out this article to create a journal entry to record it: What to do if you didn't enter an opening balance in QuickBooks Online.

 

For future reference, refer to these resources to organize your accounts:

 

 

Please don't hesitate to return to this thread whenever you have additional questions concerning accounts. I’ll be here to respond to you.