End of Year adjustments

Louise72

My Accountant has asked me to enter End of Year Adjustments.

 

She has listed Example below.

                                   CREDIT                   DEBIT

Investments               $4200

 

Office Equipment at Acc Dep'nc               $6514

 

Can someone give me an example of how this is done and how it should look.

Feeling clueless today.

 

 

 

 

Tracey_H

Hi @Louise72 

 

Thanks for your post. End of year adjustments are recorded as general journals in Accounts>>Record Journal Entry.  Based on your example it would look something like this: 

 

 

 

 

Your accountant will have given you a list of accounts and amounts, enter them all into the one journal transaction because they will balance back to zero

 

This help article has more information you may find useful: End of year adjustments

 

Please let me know if you need further help.

 

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