Your Opening Balance is the amount of money in a bank account when Digits starts tracking your data. It’s important because it helps Digits calculate your Total Cash and keep your reports accurate.
Where Digits Gets the Opening Balance
When you connect a bank account, Digits tries to pull the Opening Balance using one of three sources:
- From QuickBooks:
If you’ve used QuickBooks, Digits brings in your balance from there. You’ll see it labeled "imported from QuickBooks." - From the Bank:
If you're not using QuickBooks, Digits pulls up to 2 years of transactions using Plaid. If your account is newer than that, it typically retrieves the balance automatically. - If You’re Starting Fresh
If Digits can’t find a balance—usually because the account is older than 2 years or no data is available—it will estimate one based on the earliest transactions it can see. This shows up as a journal entry labeled "Digits generated opening balance."
When You Might Need to Adjust It
You might want to update your Opening Balance if:
- Your Total Cash looks off
- You’re missing older transactions
- You don’t see a starting balance at all
How to Fix It
If your Opening Balance looks off—or is missing entirely—you can update it manually:
Option A: Edit the Existing Entry
- Go to Ledger > All Transactions
- Find the entry with your opening balance
- Open it and adjust the amount if needed
- Click Save & Close
Option B: Create a New Entry
- Go to Ledger > All Transactions
- Click New Transaction
- Choose Journal Entry
- Enter the correct amount and select the accounts
- Click Save & Close
Not sure what the right balance is? Use your bank statement from the day you connected Digits.
Need help with journal entries? See Journal Entries in Digits
Want to Backfill Older Data?
If you have older transactions in a spreadsheet:
- Go to Ledger > All Transactions
- Click the dropdown next to New Transaction
- Select Import Bank Transactions
- Upload your CSV file
Digits will use this info to clean up your books and improve accuracy going forward.
If you’re unsure about your Opening Balance or run into any issues, reach out to Digits Support—we’re always here to help.