The Opening Balance Equity account is an account that is created automatically in QBO and you can't delete it or make it inactive.
But it should never have a balance once you have completed the file set up.
Here are some common reasons that a number appears in this account, so that you can figure out how to clear it out.
- You've connected a new account through the bank feed - the opening balance on the account automatically gets posted here
- If you entered an opening balance when setting up the chart of accounts into any of the balance sheet accounts - the amount you entered in the box has the offset to that balance posted here
- You make a balance sheet account inactive that has a balance - the account is made inactive, and the balance in that account moves here
- If you entered a balance on account for a Customer or Vendor when you set them up - the amount you entered in the box has the offset posted here
- You added inventory cost and quantity when setting up a new product in your listing - the offset to the increase in inventory is posted here
Hope that helps you solve how to clear it. Who says bookkeeping isn't interesting :-)