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In researching some balances, I discovered that our TB as of 12/31 in a year did not match the opening balances on 1/1 of the next year. The variances isnt really material, but it is annoying me and it shouldn't be there.
We don't use any modules other than Fianncials. Is there a way to manually adjust an account balance without a J/E? A journal entry would just put somethign else out of whack.
Everything balances except for this amount from Dec 2012 to the beginning of 2013. The opening balance in this account for 2013 doesn't match. I've verified every other account on our balance sheet. But I adjused the beginning balance of 2013 but it only changed that year. Each year after still has the variance.
I was just going from your example and assumed that this began between 2020 and 2021. If it did begin earlier, then once you adjust the earliest occurrence, it should make the adjustments all the way up to the current year automatically.
Assuming that the Trial Balance is balanced at the end of 2020, I would make the correction in the Beginning Balance for 2021. But your question brings up another: do the Beginning Balances for 2021 balance (i.e., do Debits = Credits?) If so, you're looking for two changes to make.
I do know the account. It's just a really weird error. Do you think I'm better off making the adjustment in the current year, or at the end of 12/31/2020, or going back to when it happened and making it? And you're just talking about changing the beginning balance, right? That field? Thanks.
If you know which account/subaccount is the issue, you can make adjustments in the Account History screen while in Initialize Mode. Be very careful and get back out of Init Mode as soon as you're done. Otherwise, you risk making other unbalanced transactions.
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André Arnaud de Cal...
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