Background
Client had an account 800-4210-1000 EXPENSE X that was created in Fiscal 2015 as a Posting Account and as Balance Sheet - rather than correctly as a Profit / Loss
Fiscal Year Dec1 to Nov30
Middle of Jan 2016 client closes Fiscal Year 2015 and realizes the problem with the account
Client did a JE in Fiscal 2016 dated Nov30/15 to move the OPEN balance to the prior year, and corrected the balance type to Profit / Loss
Situation
Now when we print our financial statements for the current fiscal year, the Net Income / Loss value that is presented on the Balance sheet is incorrectly stated by the amount of the value in that single account. However, and very troubling, the Balance Sheet is in Balance.
Work to Resolve
I have completed a Reconcile Year both on History (2015) and Open (2016)
Still no change.
Question
What am I missing? How do I get this back to the correct presentation?
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