Plus Community - for users of ACCPAC & Adagio accounting software

Welcome to the PlusCommunity forums! PlusCommunity is a gathering place for companies running Simply Accounting, ACCPAC Plus, Sage Accpac ERP (ACCPAC Advantage/ACCPAC for Windows), and Adagio Accounting.
New visitors, please click here!

Page 1 of 1 1
Topic Options
#52215 - 04/16/16 10:17 AM Posted adjusted entries for year end
jumpingmoon
Member


Registered: 04/04/16
Posts: 6
Loc: canada
One previous accountant from our company helped me to post adjusted entries for last year end. I found that she did something wrong.

The last year end is June 30,2015,She created one batch including all adjusted entries on July,1 2015, then she posted it to previous year. She opened last year end backup file and enter last year period 12.She created the same batch inculding all adjusted entries on June 30, 2015 then posted it to current year.
She did not record or post reversed entries in 2016 that auditor asked me to do .

I checked some account balance relating to reversed entries in 2016 and they are wrong. The opening balance is not the same amount as it should be.

Did that accountant do the right procedure? She did not work for four years and she may be confused with it. How can I correct the error? Do I just post the reverse entries on July1, 2015?

Anybody can help me? Thanks a lot!

Top
#52216 - 04/16/16 05:06 PM Re: Posted adjusted entries for year end [Re: jumpingmoon]
Steve Schwartz Moderator
Member


Registered: 07/30/00
Posts: 1761
Loc: Wynnewood, PA
Yes, you just post the reverse entries into the live data on July 1, 2015.

Steve

Top
Page 1 of 1 1


Moderator:  Douglas Dickie, Steve Schwartz, Lars E. Glimhagen 
Hop to: