User Support Forum

I opened a liability account last year which was to track our church loan. The bank (and it was the bank) gave me the wrong balance which I used as the beginning balance for the account. Now in version 9 I can not change the beginning balance to correct for the banks error. What can I do to change this balance and not mess up everything else in the process. I can't delete the account because it has had postings - help!

I'd go back to the earliest month you still have open and post an accounting adjustment in Fund Accounting for the difference in the amounts. Let's say the amount the bank gave you was $100 too much. In that case, post an accounting entry such as the following:

DR Liability Account $100.00
CR Fund balance (or Unrestricted Net Assets) Account $100.00