How to key in opening balance without journal entry?

You'll enter the current balance of your account, accounts.

When you select a date, you enter the account balance of that day from the bank statement. This is to make sure the opening balance in QuickBooks matches with your bank records.

If it's a deposit account, enter positive balance. Negative balance for expense.

Here's how:

1. Click the Gear icon.
2. Select Chart of Accounts.
3. Select New.
4. Follow the steps to create a new account.
5. Select the start date.
6. Enter the balance.
7. Select Save and Close.

You can check out these articles to help you organise your accounts:

• Organise your accounts into parent accounts and subaccounts
• Hide accounts you no longer use

Drop a comment below if you have other questions on how to handle accounts in QuickBooks.