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How to Fix an Opening Balance in Quickbooks Online

How the beginning balance is calculated

The opening balance on your statement is the total amount your bank has recorded for all the transactions in your account at the beginning of the statement period.

The way QuickBooks Online calculates the beginning balance for an account depends on whether the account has ever been reconciled before:

When your QuickBooks Online beginning balance doesn't match the bank statement's, it's called a beginning balance discrepancy.


  • Select the Gear icon at the top

  • Under Account, click Reconcile

  • Copy the Beginning balance number

  • Top right click on the Search icon

  • Click Advanced Search

  • Include the following criteria: All Transactions Lines, Line Amount, Equals, paste the original beginning balance number

  • Click Search

  • Click on the Type (ex: deposit) that has that same amount

  • Edit to the correct Amount

  • Click Save and close

  • Notification pop up: click Yes

Here's a video tutorial on how to create an opening balance from scratch.

Here's a Youtube Channel of more recently updated video tutorials for Quickbooks Online.


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