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.

  1. You've connected a new account through the bank feed - the opening balance on the account automatically gets posted here
  2. 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
  3. You make a balance sheet account inactive that has a balance - the account is made inactive, and the balance in that account moves here
  4. 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
  5. 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 :-)

Updated: April2017