After you've set up your chart of accounts and entered correct opening balances for each balance sheet account, you may want to transfer money from Opening Bal Equity to other equity accounts.
To transfer money out of Opening Bal Equity:
Choose Lists > Chart of Accounts.
Select the Opening Bal Equity account.
Choose Use Register from the Action pop-up menu (
).
Enter a transfer transaction:
Enter the amount in the Decrease column of the register.
In the Account field, enter the name of the equity account where you are transferring the money.