Starting Balance
Posted: Thu Apr 05, 2018 10:58 am
How do we go back and correct our beginning balance?
A bit harder to do once you have started to use the system. I'm assuming you mean your checking account?steamtown church wrote:How do we go back and correct our beginning balance?
Here's what I posted for a previous question:
If you need to add funds use the transaction as shown above, if you need to remove funds, reverse the DB and CR accounts.You need to create a transaction in Funds Accounting. Using $1000 as an example, and the default PCPlus account numbers for the checking and equity accounts.
DB 01-1110-000 $1000 Beginning balance for checking account
CR 01-3110-000 $1000 Beginning balance for equity
You normally have no reason to enter ANY transactions against an equity account, as the system does that for you, but in this case you have to do this.
Again, adjust the account numbers to reflect the numbers you're using.