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Yea. I have a credit card opened up that the beginning balance was selected to be 0.00
As the company is only tracking from Jan 2022 and forward, I need to go back and change the beggining balance. Like the Opening Balance itself. Can i not edit this ? and I know someone will end up posting the same 4 or 5 links to stuff that does not actually answer the question. I need to know exactly where to go to be able to edit the beginning balance.
It is not "chart of accounts, credit card, view register, edit opening balance"
that option does not exist. But on other forums those links keep getting posted.
Is the only option to do an adjusting journal entry to match the begining balance as of January ? why would we not be given more control over making these changes ?
Hi there, @rr32. I'll share with you an alternative way to enter the opening balance.
The opening balance box is only available if you haven't yet added transactions to the account. You can create a journal entry for the opening balance instead.
Here's how:
Go to the Company menu and select Make General Journal Entries.
Set the date for the journal entry. It should be the date you pick for the opening balance.
On the first line, from the Account drop-down, select the account you're entering the opening balance for.
Enter the balance for your real-life accounts for the day you picked. Enter the opening balance in the Debit column.
On the next line, select the Account drop-down and then the Opening Balance Equity account.
Enter the same opening balance amount in the opposite column as the first line.