Add or Adjust the Beginning Balance in QuickBooks

by Candus | Mar 7, 2018 | QuickBooks Desktop

Is your beginning balance off on your bank or credit card account?

You can add or adjust your beginning balance in a few different ways. 😊

I recommend starting with – where did the money came from? The owner or shareholder? Are you not sure?

Learn how to add/adjust the beginning balance in a bank account or credit card inside QuickBooks… 🙌

Looking for the online version? Click here: https://canduskampfer.com/how-to-enter-opening-balance-in-quickbooks-online/

Creating New Balance

Go up to “Lists”
“Chart of Accounts”
Go down to “Account’
“New”
Choose “Bank”
Click “Continue”
“Account Name”
“Enter Opening Balance” > goes to equity account
Click “Save & Close”

Editing Existing Balance

Right click on the existing bank account
“Edit Account”
“Change Opening Balance…”

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Were you able to get your opening balance changed? We’d love to hear – please comment below. 👇

16 Comments

Margaret Hynes on June 16, 2022 at 6:32 am

what if the bb is money(deposits) from customers?
Reply
- Kindra~Team Candus on June 17, 2022 at 9:19 am
  
  Hi Margaret,
  
  The same process would apply; you just want to categorize the account it is coming from accordingly. ~Kindra/Team Candus
  Reply
Nancy on July 10, 2020 at 2:51 pm

I have been watching several of your videos and I learned that I have been entering credit cards wrong. I get the statement and enter it as a bill. My question is how do I start doing it the right way? Do I enter an opening balance? and if so, what amount do I use? I really want to do it right going forward and hope I haven’t made too much of a mess 🙂
Reply
- Candus on July 19, 2020 at 3:50 pm
  
  Nancy,
  
  You can adjust your last bill to match what you paid. That should help if you’ve been entering the credit card charges.
  
  Without seeing exactly what you’ve done it’s hard to give you step by step.
  
  I do offer support with private sessions if that’s something you’re interested in you can visit: https://canduskampfer.com/private-sessions-with-candus/
  
  Have a great day!
  Candus
  
  I do offer private sessions if you want personal help.
  
  Candus
  Reply
DEBBIE JONES on May 21, 2020 at 9:58 am

ALL YOUR VIDEOS ARE VERY INFORMATIVE AND I LEARN SOMETHING KNEW EACH TIME I WATCH ONE. THANK YOU
Reply
- Amber on May 21, 2020 at 10:35 am
  
  Hi Debbie,
  
  Thank you for your feedback! It’s always great to hear the videos are helpful 🙂
  
  Have an awesome day!
  Amber ~ Team Candus
  Reply
Joe Capra on May 20, 2020 at 1:39 pm

I have a real problem my one checking account i haven’t been able to reconcile for a couple of years . I got off way back and never tried to reconcile. is there a way to go back two years and correct this account?
P.S. Your tips and tricks are awesome.
Joe C.
Reply
- Amber on May 21, 2020 at 10:40 am
  
  Hi Joe,
  
  Thank you for your question.
  
  I will add it to the list Candus uses to create new QB tips each month.
  
  Have a great day!
  Amber ~ Team Candus
  Reply
john emurugat on May 14, 2020 at 4:57 am

Have you done anything on suspense accounts?
Reply
- Amber on May 14, 2020 at 2:08 pm
  
  Hi John,
  
  We do not have any videos about suspense accounts at the moment but I will add this suggestion to our list for future tips.
  
  Thanks for being a part of our community.
  
  Have a great day!
  Amber ~ Team Candus
  Reply
Michelle Wiley on May 13, 2020 at 9:21 pm

Is there any way to see the PPP segment. I missed it, unfortunately.
Reply
- Amber on May 14, 2020 at 1:49 pm
  
  Hi Michelle,
  
  I’m so glad you reached out.
  
  Here is the link to the video: https://canduskampfer.com/PPP-loans/
  
  Have a great day!
  Amber ~ Team Candus
  Reply
Teresa McNab on August 22, 2018 at 2:38 pm

We just purchased the QB premier Edition, in purpose of online payment to vendors, but I do not know how to set in up the vendor centre for their bank account info.
Reply
- Admin on September 5, 2018 at 9:45 pm
  
  Teresa,
  
  I will add this to my list of requests.
  
  Candus
  Reply
Inez Lord on March 15, 2018 at 8:43 am

Hi Candus,

Thank you for the tips. I have a question. I have never entered a credit card as a credit card charge on QuickBooks. I enter it as enter bills and pay with check card. I want to start entering as a credit card charge because I am ending up with paying partial payment instead of paying the card off every month. How can I now start with a balance entering under credit card charges and leaving a balance if needed? I hope this makes sense.
Thanks
Reply
- Admin on March 19, 2018 at 4:24 pm
  
  Inez,
  I would recommend figuring out which expense you owe on (if possible). Enter those charges and they will give you a balance.
  If you have no idea what you owe / which expense they are for. Use the technique in the video and add an opening balance entry.
  
  Candus
  Reply