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Balance Equity: I just started quickbooks 2019 but I have a previous balance in my account from 2018. How do I add this to balance my quickbooks with the bank?

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If you want to increase your bank account’s balance, you’ll debit the bank and credit the Opening Balance Equity. However, if you need to decrease your bank account’s balance, you’ll have to credit bank and debit […]

Resolution for 'Balance Equity issue: 'I just started quickbooks 2019 but I have a previous balance in my account from 2018. How do I add this to balance my quickbooks with the bank?' available: Yes.

The Balance Equity 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 Balance Equity issue yourself by looking for a resolution described in the article. If it is a complex Balance Equity issue or you are unable to solve the issue, you may contact us by clicking here or by using other Balance Equity support options.

For more information about resolving issues related to Balance Equity in Quickbooks/QBO or to get support for the issue 'I just started quickbooks 2019 but I have a previous balance in my account from 2018. How do I add this to balance my quickbooks with the bank?', click the link below:

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Balance Equity: initial bank reconciliation

Resolution for 'Balance Equity issue: 'initial bank reconciliation' available: Yes.

The Balance Equity 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 Balance Equity issue yourself by looking for a resolution described in the article. If it is a complex Balance Equity issue or you are unable to solve the issue, you may contact us by clicking here or by using other Balance Equity support options.

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Balance Equity: Loading of bank transactions manually into Quickbooks online

Using the journal entry, can I enter the credit amount using the Opening Balance Equity in the account field ?

Resolution for 'Balance Equity issue: 'Loading of bank transactions manually into Quickbooks online' available: Yes.

The Balance Equity 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 Balance Equity issue yourself by looking for a resolution described in the article. If it is a complex Balance Equity issue or you are unable to solve the issue, you may contact us by clicking here or by using other Balance Equity support options.

For more information about resolving issues related to Balance Equity in Quickbooks/QBO or to get support for the issue 'Loading of bank transactions manually into Quickbooks online', click the link below:

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Balance Equity: What is the easiest way to create starting balances for AR and AP??

I never link anything to Opening Balance Equity. It’s bad enough that the programmers dump generic data there; why would I also use it?

The point of the file to start is to set up what you know applies; if this open AP or AR is from a prior fiscal year […]

Resolution for 'Balance Equity issue: 'What is the easiest way to create starting balances for AR and AP??' available: Yes.

The Balance Equity 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 Balance Equity issue yourself by looking for a resolution described in the article. If it is a complex Balance Equity issue or you are unable to solve the issue, you may contact us by clicking here or by using other Balance Equity support options.

For more information about resolving issues related to Balance Equity in Quickbooks/QBO or to get support for the issue 'What is the easiest way to create starting balances for AR and AP??', click the link below:

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Balance Equity: Opening Balance Equity is throwing off Reconciliation

“I assume was input during the initial set up of this QB”

 

Since you’ve duplicate opening balance entries (one from the chart of accounts and another one from connecting to a bank account), you will need to delete one, preferably from the initial set up of QB.

 

From the homepage dashboard > […]

Resolution for 'Balance Equity issue: 'Opening Balance Equity is throwing off Reconciliation' available: Yes.

The Balance Equity 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 Balance Equity issue yourself by looking for a resolution described in the article. If it is a complex Balance Equity issue or you are unable to solve the issue, you may contact us by clicking here or by using other Balance Equity support options.

For more information about resolving issues related to Balance Equity in Quickbooks/QBO or to get support for the issue 'Opening Balance Equity is throwing off Reconciliation', click the link below:

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Balance Equity: Opening equity balance; made a journal entry to credit the owner and debit the opening balance. Now the opening balance is showing a negative amount on the balance sheet.

“I debited the owners equity and credited opening balance equity.”

Just to review: that is a Meaningless entry. What you did is Equity = Equity. Let’s review Opening Balance Equity:

You Never use it yourself, and if it gets values from any function in QB, you Zero it out to real equity, […]

Resolution for 'Balance Equity issue: 'Opening equity balance; made a journal entry to credit the owner and debit the opening balance. Now the opening balance is showing a negative amount on the balance sheet.' available: Yes.

The Balance Equity 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 Balance Equity issue yourself by looking for a resolution described in the article. If it is a complex Balance Equity issue or you are unable to solve the issue, you may contact us by clicking here or by using other Balance Equity support options.

For more information about resolving issues related to Balance Equity in Quickbooks/QBO or to get support for the issue 'Opening equity balance; made a journal entry to credit the owner and debit the opening balance. Now the opening balance is showing a negative amount on the balance sheet.', click the link below:

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Balance Equity: I have stranded journal entries in an asset account called “Prepaid Expenses” – how should I handle?

Since you created inventory item with qty and cost – that cost posted by default to opening balance equity

since they are already paid for so to speak, the payments you have sitting in the pre-paid account is basically a duplicate, I would journal them to opening balance equity, debit OBE, […]

Resolution for 'Balance Equity issue: 'I have stranded journal entries in an asset account called “Prepaid Expenses” – how should I handle?' available: Yes.

The Balance Equity 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 Balance Equity issue yourself by looking for a resolution described in the article. If it is a complex Balance Equity issue or you are unable to solve the issue, you may contact us by clicking here or by using other Balance Equity support options.

For more information about resolving issues related to Balance Equity in Quickbooks/QBO or to get support for the issue 'I have stranded journal entries in an asset account called “Prepaid Expenses” – how should I handle?', click the link below:

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Balance Equity: Cant get my opening balance right

I think QB intends for you to add opening balances through the Chart of Accounts, but that’s not the way I do it. I would just post a JE as of 1/1/18. Record your bank balances as of 1/1/18 as debits, your liabilities as credits, and then the balance goes […]

Resolution for 'Balance Equity issue: 'Cant get my opening balance right' available: Yes.

The Balance Equity 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 Balance Equity issue yourself by looking for a resolution described in the article. If it is a complex Balance Equity issue or you are unable to solve the issue, you may contact us by clicking here or by using other Balance Equity support options.

For more information about resolving issues related to Balance Equity in Quickbooks/QBO or to get support for the issue 'Cant get my opening balance right', click the link below:

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Balance Equity: Cant get my opening balance right

I think QB intends for you to add opening balances through the Chart of Accounts, but that’s not the way I do it. I would just post a JE as of 1/1/18. Record your bank balances as of 1/1/18 as debits, your liabilities as credits, and then the balance goes […]

Resolution for 'Balance Equity issue: 'Cant get my opening balance right' available: Yes.

The Balance Equity 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 Balance Equity issue yourself by looking for a resolution described in the article. If it is a complex Balance Equity issue or you are unable to solve the issue, you may contact us by clicking here or by using other Balance Equity support options.

For more information about resolving issues related to Balance Equity in Quickbooks/QBO or to get support for the issue 'Cant get my opening balance right', click the link below:

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