QB Issue Resolution:
You should not be crediting OBE
OBE is posted to by QB when you set up your starting balances, then once all the starting balances are entered you move OBE to owner/partner equity with a journal entry
Credit owner/partner equity
Journal entries should be the exception when using QB, they often do not work as you think they should, and they never work for inventory. It is much better to use the forms on the home page the way QB is designed to be used.
Resolution for Issue 'Opening Balance Equity account – what is the double entry (debit and credit) for this account?' available: Yes (Solved).
Source: Intuit Community forum.
Opening Balance Equity account – what is the double entry (debit and credit) for this account?: this issue or error code is a known issue in Quickbooks Online (QBO) and/or Quickbooks. Support for this issue is available either by self-service or paid support options. Experts are available to resolve your Quickbooks issue to ensure minimal downtime and continue running your business. First try to resolve the issue yourself by looking for a resolution described below. If it is a complex issue or you are unable to solve the issue, you may contact us by clicking here or by using other support options.Support for equity account
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Error Recovery for equity account [Canada]
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