FAQs
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      2. FAQs

      [FAQ] How do I process an adjustment to a previous year?

      Let's say that you're in August 2022 and you need to process adjustments in the year 2021. 

      1.  In the Set Up Options: Change the Accounting Year back to 2021 and the month to December
      2. Follow the prompts to delete the opening balances
      3. Process a journal for the changes *
      4. Approve the journal **
      5. Change the Accounting year back to 2022 and the month to the current month
      6. Follow the prompts to recreate the opening balances

      *Warning: 

      If the journal impacts a control account, e.g. AR, AP, WIP, Deferred, Accrued Revenue, any entries to these accounts could throw out the alignment with the corresponding system report, i.e. Receivables Aging, etc. 

      ** If the journal includes entries to a control account, contact Accountability at support@counta.com