BALANCE SHEET CORRECTION

[Flonda Ruth]

I was helping our church bookkeeper using V9 by helping her delete old data, etc. for approximately 7-8 years. We ran a Balance Sheet report before we started any deletions and everything balanced. When we completed our deletions, we ran another Balance Sheet Report and we are off an odd amount over $3,500. We compared reports from before the update and current and all account balances, etc., are the same except for the Fund Equity amount and that shows the difference on the Balance Sheet and on the Account Activity Report. How can we make a correction entry to offset this difference and be able to balance effectively?
Thank you for any help you can give me. Ruth

[NeilZ]

Quick questions ...

1. Did you take a backup before you started ?
2. Were you using the 'Delete Old Data' function of Fund Accounting ??

[JohnDMeyers]

and another question...

Look at the Total Assets and compare them to the Total Equity plus Liabilities. Are they the same? Do this comparison in every Accounting Fund.

[Flonda Ruth]

I want to thank both of you for your help. Thanks. Ruth

[Flonda Ruth]

How do you make a correcting entry in V9? This would involve correcting an error in Liabilities.

[NeilZ]

How do you make a correcting entry in V9? This would involve correcting an error in Liabilities.

Depends on what you're doing. Can you give us more info about what you need to do. A simple reversing transaction perhaps ??

[Flonda Ruth]

It's with the payroll taxes withheld. I was able to reverse most of it, but there's a little over $3,500 that can't be reversed because this was the balance of taxes withheld during the period that the old data was deleted from. The bookkeeper wasn't doing the liability entries correct for many years. She was withholding the taxes in separate liability accounts and paying them out of another single liability account. So I was able to reverse the entries for the years that she still has the data for, but the liability account she was paying them from has a beginning balance that I'm not sure how to clear. Then she will be able to keep an accurate accounting of taxes withheld and paid from the same separate accounts. Thanks for any help.

[Flonda Ruth]

This problem has been solved. I'm don't know how to delete this topic.

[NeilZ]

This problem has been solved. I'm don't know how to delete this topic.

You don't ... they remain and can be found via a search for others to get answers