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#54253 - 03/26/20 10:50 AM balance sheet account marked as Income Statement
Mr Mayor

Registered: 04/22/09
Posts: 492
Loc: Zimbabwe
a clearing account was erroneously setup as income statement account. yearend rollover the balance or 5k was rolled over to retained earnings

journals were passed left right and centre, the resultant is 2020 financial year the same account has 10k(doubled)

is it now just a journal of 10k into retained earnings prior year, or is it into adjustment period or into CLS since the straight 5k isn't clearing out the original balance
If you don’t make it first time, sky diving wasn’t meant for you

#54254 - 03/26/20 11:00 AM Re: balance sheet account marked as Income Statement [Re: Mr Mayor]
Jay Converse Administrator

Registered: 07/31/00
Posts: 7781
Loc: Location, Location
Adjust it in CLS
Jay Converse
Sage 300 Whisperer

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