Hi there, Unicomp!

QuickBooks is a blank canvas. It helps you organize your business finances all in one place so you can complete your frequent tasks in fewer steps. The potential use of its features depends on how well your transactions are recorded. The right opening balance will help you move forward and I'm here to guide you through entering it.

To enter an opening balance, you can follow SarahannC's steps above, or you can record it as a bank deposit in the account register.

1. Go to Accounting or the Gear icon and choose Chart of Accounts.
2. Hit View register on the account in concern.
3. Click Add [whatever transaction name is shown], select Deposit.
4. Enter the date, choose Opening Balance Equity for the category, enter a memo and enter 260,060 in the DEPOSIT field.
5. Click the Reconcile (checkmark) column until the status changes to R (Reconciled) and click Save.
   
   

Here are a couple of articles for your additional reference:

• Enter and manage opening balances in QuickBooks Online

• What to do if you didn't enter an opening balance in QuickBooks Online

Please let me know if you have other questions in mind. I'm just here to assist you again. Take care!