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What is the accounting impact if you have accounts set up as B/S accounts that were supposed to be P&L accounts? Given that you have not closed the year, do you only need to fix this by modifying the account cards to use P&L instead of B/S?
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The Account Posting Type determines the how the balance will be treated at the end year closing in General Ledger, it is a common issue that occurs and doesn't have any negative ramification as long as you discover that before closing the year.
You could simply go to the Account Maintenance Card and choose the Profit and Loss option
Change the account types. In addition to this, you should check the typical balance as part of your pre-year-end-close routine.
The best way to do this is to run a Smart List with the natural number, typical balance, and posting type columns in Financial > Accounts. Then sort by your natural numbers if you have a standard account setup to make sure all your accounts are properly coded.
B/S accounts get an opening balance. P/L do not. If your year is not closed, just change them to the right type. If your year is closed, it get more complex.
Warren
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