Thanks for getting back to us, ankur1306.
I'm here to make sure you'll have the opening and closing balances in the general ledger in Foreign currency.
You'll need to enter a balance upon creating an account in QuickBooks Online. However, if you've already created an account you can edit the opening balance equity. Then, in order to close the account, you must reconcile it.
Here's how to edit the equity balance:
- Click on the Gear Icon and select Chart of accounts.
- Choose the correct account, and click View register.
- On the filter icon, click the drop-down arrow and type in Opening balance.
- Click Apply.
- If it shows up, click it.
- Next, click on Edit.
- Enter the appropriate opening balance.
To learn more about how opening balance works, you read this guide: Enter an opening balance for an account. I've also included an article that will help you keep your accounts balanced and up-to-date:
I’ll be around to help you whenever you have other queries. Just leave a reply in this thread and I’ll get back to you as soon as I can. Have a great day and keep safe.
