Enter the opening balance for an account that has transactions

If the account already has transactions, there are two ways you can enter an opening balance.

• Create a new account and then merge accounts.
  1. Create another account of the same type with a similar name, and enter the opening balance in the New Account interview.

     For example, if the account without the opening balance is called Yellow Truck, create an account called Yellow Truck OB that has the correct opening balance for Yellow Truck.

  2. Merge the two accounts. See Merge accounts.

     For example, merge Yellow Truck OB into Yellow Truck.

  or

• Create a transaction for the opening balance amount you want:
  1. Click Create (+) and select Bank Deposit, Check, or Journal Entry, depending on the kind of account you want to affect. For example, for a loan account, select Bank Deposit.
  2. Create a transaction in the amount of the opening balance.
  3. Save the transaction.