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Per the client. "I need to make adjusting entries to FY2013, and I have a final entry to clear retained earnings. However, my other entries to record depreciation, amortization, etc. are automatically causing mirror postings involving retained earnings." Any thoughts?
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Lisa,
Just a notion, but from time to time, a client will incorrectly set the posting type for a Income Statement Account to Balance Sheet, then close the year, and not notice until they have completed significant transactions in the new year -- mostly because they didn't use the Year End Checklist!
So how is this related to your problem, you ask? When this happens, we want to make an adjustment to last year, and we don't keep the actual journal entry in the prior year, as we only want to offset the undesirable BBF that was created .
Microsoft has a Knowledge Base, which goes through the detail of making adjustments to prior years without the unwanted activity you noted in your issue above.
support2.microsoft.com/.../864913
I would suggest you review the article to gain an understanding of how to make this type of adjustment, then test the approach in a test database.
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