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Enter the opening balance for the account

Before you enter an opening balance, decide whether or not you really need to enter an opening balance for the account.

  • Go to the Add New Account window and click Should I enter an opening balance?

  • Review the information to help you decide.

If the account did not have a balance before your QuickBooks start date, do not enter an opening balance. Instead, use a transaction to put money in the account.

To do this task

Complete the following steps for either bank and credit card accounts, or for all other account types.

  • For Bank or Credit Card accounts: Locate the last statement you received before your QuickBooks start date and find the ending balance and ending date.

    1. In the Statement Ending Balance field, enter the statement's ending balance.

    2. In the Statement Ending Date field, enter the ending date of the statement, or click the Calendar and select the date.

  • For all other account types: Enter the balance of the account on the day before your QuickBooks start date:

    1. In the Opening Balance field, enter the amount of the opening balance.

    2. In the as of field, enter the date (the day before your QuickBooks start date), or click the Calendar and select the date.

See also

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