When you create a balance sheet account, QuickBooks provides you with a field to enter the account's opening balance. If you did not enter the opening balance when you created the account, the manner in which you enter the balance later will depend on whether you have entered any transactions in the account.
To enter an opening balance for an account without transactions:
To enter an opening balance for an account that has transactions:
Note: Accounts receivable (A/R) and accounts payable (A/P) opening balances are handled differently from other balance sheet accounts. For more information, refer to Setting up opening balances for Accounts Payable and Accounts Receivable accounts.