User Support Forum

I recently took over the books for our Church and had PC installed. After I got everything loaded and all data inputted to date, I was told that we had two CD's and two security deposits (for rental property). I was not aware of these when I ran the start-up program.

How do I now enter these balances after the fact? I created Asset accounts for the CD's and Laibility accounts for the security deposits.

For the CD's:
DB 01-1220-000 CD asset
CR 01-3110-000 unrestricted net assets

For the security deposits:
CR 01-2120-000 security deposit
DB 01-3110-000 unrestricted net assets

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You should only directly transact the equity accounts sparingly. One okay reason is to set up beginning balances.

Thanks.