I REALLY need help!!! regarding reports
My employer needs me to help him (get back to an original amount for consulting income for year 2009 before he does the taxes for 2010.) There is a difference of $1325.93 which I do not know HOW to retrieve!!! HELP!!!...rosel
You might be able to find what changed in the reports>Accountant>audit trail, but since it's so far back that might be information overload.
If you have a copy of the prior year balance sheet, I'd check to see if you are equally as off on the balance sheet somewhere.
Thanks for such quick response. No, accountant>audit trail didn't really help me, and I wasn't off by the same amount the prior year. I do know where a possible missing amount is....but, I can't get to it. You see, several invoices were credited after my employer paid 2009 taxes, which now show up as that. In my attempts to get back to original amount for him, I voided the credited ones....all except for one amount (which I can't get a hold of)
OK - then you have a cash vs accrual issue. If the company was cash basis, then you probably just needed to change the basis of the report if it is currently showing accrual.
To look for a specific dollar amount in a deposit, go to reports>banking>deposit detail and look for the date range in question.
To look for a specific invoice amount, go to reports> customers and receivables> customer balance detail and you can either sort the report by dollar amount or modify the report for the amount range you are looking for.
Thanks for the help. My employer said it was accrual.
So, you see, I assigned an invoice number to the avail credit (leftover). MY employer said that money should be used as consulting income. Well, that's why I put it into an invoice number and it went into the next year's income. Now, I know I can change the date and put it back into 2009, but that will increase the total consulting amount by that much ($1325.93) again! And, I need that total amount to decrease. I am so sorry I don't know enough to make this clear. But, any other thoughts? And, thanks for all your consideration/patience!!!...rosel
If you know the client that it goes to and the amount, you could try entering a credit memo to that client for 2009 or create a journal entry dated 12/31/09 debiting consulting fees (if you need it to go down) and post a credit to a/r if that's where the issue was. You can also create a liability account for "Due to customers" to credit that amount to. I would lable it PPA (prior period adjustment) and make sure the description is clear. Might be too simple of a solution - I don't know.
FYI - At the end of every year I print out a P&L and Balance sheet when I do the tax return so I know exactly what was there when I did the return. That way, any changes can at least be narrowed down to the accounts involved so if I do need to make a journal entry, I know what accounts to use.
Hopefully this helps.
Dear mbw33701... I DO think this is the answer I needed...And, if I need help doing a journal entry, I may be back asking questions there. (I've never done one before, but I will follow instructions)...THANK YOU SO VERY MUCH...rosel
Glad to be of assistance. If this solved your issue, please be sure to check solved.
Dear mbw33701...Yes, I have what I needed. I will mark this solved, but I'm wondering...The amount of $1325.93 originally was left as avail. cred., but PO closed, etc. and I then changed the amount to an invoice number, using it as consulting income, dated in 2010. (The amount is still in 2010 as #2221 for $1325.95.) What I need to know is, since my problem is solved by a journal entry whereby I debited that amount in consulting income (taking it out) and then credited it to accounts receivable in the year of 2009 (which, really is where I needed it to be placed in the first place...NOT in 2010!) what do I do with #2221 in 2010 for $1325.93? Note: There is only one amount listed as $1325.93 and that is registered in accounts receivable in 2009 where it needs to be! AND THANKS SO VERY MUCH!!!
I'm not sure I'm following you, but you could go back in to the adjusting entry you made and click on the box to reverse it so it posts the opposite entry as of 1/1/10. Again, I'm not sure I'm following you, but if you don't need invoice #2221, then you can void the invoice.
Dear mbw33701...I know I sound so convoluted! I will think about this answer and let you know.....I kind of don't think I need inv.#2221, so that might be the answer there! Once again, THANKS SO MUCH!...rosel
