User Support Forum

I restarted our accounting books in 2010. However recently it came to my attention that I think I double entered Fed, SS, Med & State withholdings. I think I included the amounts when setting up beginning balances but then when I manually entered checks I wrote, those figures were entered with the checks. Some of the PR witholdings is from Dec 2009 and the rest is from Jan 2010.
A couple of questions:
1. I'm not sure how to fix this? I think I credit each of those liability accounts but what account[s] do I debit?
2. Will this affect my checking account balance? When I reconcile I'm balanced, so I don't think it affects it. I'm a confused on this.

Thank you for any help you can give me.

If a liability account is showing a balance that is too high, you debit that account. Too low of a balance would be a credit to a liability account. You could use an income, expense or net asset (3000s) for the other side and this wouldn't affect your bank account.

Thank you for your reply. I want to make sure I understand about the account to credit. This is what I'm looking to do...

DB Fed withholding
DB SS withholding
DB Medicare withholding
DB State withholding

CR Unrestricted Net Assests 01-3110-000. [account set to close to this account] I'm not sure what other account I would use, income, exp or net asset. Please let me know if this would be OK. I tested it and I saw that my balance was not affected, that my current liabilities were correct for May and that my general fund balance was increased by the total of these liabilities. I guess I'm just trying to do my best at avoiding a mistake and having to correct a mistake on top of mistake. Hope this make sense. Thanks for your help!