Opening balance inaccurate- need to change second year in business
second year in business- need to adjust opening bank balance for beginning of year to reconcile accounts
Ryan Kirk
Jul 21, 2025
Hi there,
The Opening Balances feature is only available for the first year of the program, but you can adjust your opening balances for other dates (such as January 1) using the General Journal entry page. You would want to determine whether you need to debit or credit your bank balance and by how much. You will likely need to contact your accountant to determine which account to offset this change to.
Hi there,
The Opening Balances feature is only available for the first year of the program, but you can adjust your opening balances for other dates (such as January 1) using the General Journal entry page. You would want to determine whether you need to debit or credit your bank balance and by how much. You will likely need to contact your accountant to determine which account to offset this change to.