I have some bank deposits not entered for 2003-2007. The books were closed without these deposits, for for all these years; how this was done wiothout balancing the bank account I do not know. The taxes also have been filed for those years. Can I enter these unposted deposits in the Bank Account Register for those years, OR do Journal Entries for those same deposits in 2008 before closing 2008?
You should always have your books agree with filed tax returns (accrual basis) balances.
If you are properly reconciling your books now, nothing more to do. If you have issues with your current bank balances, you will make those adjustments in your current tax/fiscal year.
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Laura Madeira
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