Hi All
We just set up BC with data from 2018 to date. However, we haven't closed a year end yet. We are just trying to get all the years exactly the way we want them before closing them. But I doubt we will be able to anticipate all eventualities.
If we close, say 2019, will I be able to re-open it and make reclasses between income statement accounts and balance sheet accounts, or within just the income statement? The total Trial balance ties to the old ledger, so I highly doubt there will be an additional expense or revenue or anything like that added or subtracted, but just geography between accounts (moving an expense from other expenses to say rent expense).
Hopefully I was clear...
Thank you
