Asset balance

tleverly · Post by **tleverly** » Tue Apr 12, 2005 7:19 pm

I believe I made this error while running the Accounting set up. I stated that we had a sound system valued at $1700.00 . I then entered same sound system when doing monthly postings. Everything is correct when looking at the monthly account activity EXCEPT the value for the sound system is now double b/c beginning balance was not zero as it should be it was $1700.00 . This also throws off my Balance sheet by same amount. How do I fix this mistake. I am a newbe. Thanks, Todd

Matt · Post by **Matt** » Tue Apr 12, 2005 7:55 pm

Just do a entry in Fund Accounting that debits the Unrestricted Assets account and credits the sound system account for the $1700.00.