reduce year start balance on my chequing account

Got a question or comment about PowerChurch that doesn't belong anywhere else? Why not post it here!?

Moderators: Moderators, Tech Support

Post Reply
followers
Posts: 1
Joined: Wed Mar 05, 2025 6:49 pm

reduce year start balance on my chequing account

Post by followers »

I am a new user to power church, at the accounting setup step, we have the incorrect starting balance for our chequing account because we have forgotten to account for a couple of uncashed checks for 2024. I believe I need some way to reduce the starting balance. How can I do this without doing a restart? I have already entered a lot of other transactions before I discovered that this problem.
I have seen a couple of answers on how to increase the account balance. ie to debit the amount in the saving/chequing account and credit the unrestricted asset account by the same amount.
But no example of how to reduce the checking account balance.

Zorak
Tech Support
Tech Support
Posts: 3105
Joined: Thu May 13, 2004 9:59 am
Location: PowerChurch Software
Contact:

Re: reduce year start balance on my chequing account

Post by Zorak »

The process to reduce the balance would be the same, except the debits and credits would be reversed.

Credit the checking account and Debit the equity/fund balance/net assets.

Post Reply