How to change the beginning balance in QuickBooks To adjust the opening How to change the beginning balance in QuickBooks take the following actions: Open QuickBooks first and go to the Company option from the menu. Then, choose Make General Journal Entries. In the journal entry screen, type in the date of the new balance then debit the opening balance account. Remember, the total debits and credits should be equal to the starting balance that you provided. Alternatively, you can change certain particular accounts like bank or equity accounts depending on your changes. After you’ve finished, remember to save and edit the entry. In QuickBooks Online, click the Settings gear icon, click Chart of Accounts, and click the Begin balance edit option for the respective account. Changing the beginning balance brings advantages that include proper reporting of the financial information and the smooth flow of the reporting system over time. One disadvantage, however, is that it can disturb the accounting records and compromise the pricing of goods and services if there are unnecessary alterations. Always proofread the entries to prevent any form of complications when there are changes in the starting balance in QuickBooks. visit here:https://www.wizxpert.com/record-opening-balance-in-quickbooks/

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