Balance for balance sheet accounts

If you create this account while entering a transaction (by typing the account name on the page), leave the Amount empty. The transaction you enter gives the account an initial amount.

If this account represents something new, leave Balance as 0.

If this account represents something you've had awhile, enter the balance, as of a date you choose.

Which date should you use?

Use the date when you want to start tracking the account in QuickBooks. Often it is the end of your last accounting period.