Hi Mike_James ,
All balances are tied up after all the correcting entries I made.
The error in the out of balance is not in the general ledger anymore. It is in the receivables amount presented for such client.
Also, I just noticed, the activity statement of account reflected correct balances for the client, but the aging details below the statement (current, previos month and prior months classification), has an error. There is a negative balance in the prior months portion showing negative balance.
Would it be better if I reverse first all entries made for correction for better analysis? Hope you can help me on this. I tried several approaches and receivables out of balances can be eliminted; however, the activity statement aging portion is still showing the negative portion in the prior month.
Currently, I am not able to determine the composition of the negative portion showing in the aging but this might be connected to the error in deposit application as the deposit was initially recorded in 2021 and was converted to invoice using 2222 date.
Your responses are greatly appreciated.
-Kim
Hi kimpossible , I would recommend not reversing your corrections, it will make further review harder.
Is your file in the cloud?
