You can post adjusting journal entries that flow to the trial balance from the Trial Balance>Adjustments screen.
The system includes these adjustments in the beginning balance for the next period.
To add or edit an adjustment:
From the Adjustments screen, select a Period and, if available, a Journal Entry (the reference number and description of any saved adjustment) to open an adjustment for editing, or click the Add icon from the action bar to add a new adjustment.
Note: If you select a period in a closed year to edit, click the Closed Year Adjustments link and click OK at the prompt to confirm that you are making an adjustment in a closed year.
Verify or change the reference number
listed in the Ref. No. field.
This reference number defaults to 1 for the first adjustment of any
period and increments automatically, but you can edit this field as
needed.
Enter a brief summary of the entry
in the Description field.
When the entry is saved, this description appears in the Journal
Entry drop-down list.
Use the drop-down menu to specify
an Adjustment Type.
You can select Adjusting, to
add entries to the unadjusted trial balance to form the adjusted trial
balance, Tax, to add entries
to the adjusted trial balance to form the tax trial balance, or Other, to add entries to the adjusted
trial balance to form the other trial balance.
Specify an Entry Type, if necessary.
By default, Normal is selected. You can optionally select one of the following for any open period:
Recurring: A recurring adjustment is automatically posted at the beginning of each period.
Reversing: A reversing adjustment is posted in the current period, and immediately reversed in the next period.
These adjustments are generated when you close the current period.
Work with account information as needed:
Click the New Account link to add an account using the Add Account dialog box.
Select an account from the drop-down list in the Account column, and enter an amount in the Debit and Credit columns. (If you enter a one-sided adjustment, you are prompted to confirm that you want to save it.)
Use the drop-down list in the Departments field to select the applicable department for each line item on the adjustment if you have set up departments for your company.
Enter a description specific to the item in the Memo field. (This information is printed on the Adjustment Journals.)
Click Attach from the action bar to attach a source document to this adjustment, and specify the document to attach in the Attach Documents dialog.
Note: To delete an adjustment, select Delete from the Related Actions panel.
For more information about:
Trial balance, see Review Trial Balance
The Adjustment Journals, see View Transaction Reports