In QuickBooks Desktop software, while opening the company files, the users have to give the start date which shows the starting point of the transactions. This way, QuickBooks can organize the accounts effectively, without making any changes to the accounts and transactions. If however, for some reasons, the starting date is given wrong or you need to change the starting date, the account balance prior to that date becomes the opening balance. So, while entering transactions, if the starting date needs to be changed in the middle, the user has to adjust this opening balance and should make the new entries in such a way that the entries can be adjusted with the new date.
Let us check out below how to change company start date in QuickBooks
The steps are as follows:
- Go to menu bar of QuickBooks
- Open QuickBooks
- Search for “Lists”
- Click on “Lists”
- A submenu appears. Choose “Charts of Accounts” from the options.
- You get to see the tab “Opening balance Equity”
- Double click on it. This allows the user to access the registered account
- Now select the register’s first item
- Change the date of every transaction where it is written “Opening Balance”
- So all transactions in QuickBooks having a start date will change
- Similarly, you can pick the register’s second item and change the date in transactions with “Opening Balance”
- Once done, click Ok and save the file
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