GenJrnl Entry-Out of Nowhere!

[sugarbean]

On Oct. 1st I noticed a large debit (Over $10,000) on my account register. I did not enter anything having to do with it, and it won't let me enter the entry. I looked back and it also happened on Sept. 1st. It apparently did not mess up my bank balanced because it is coded - "Beginning Balance Equity - Equity does not close". 9/1 is not the beginning of a qtr. We won't have been using peachtree a year until 11/1. Can anyone tell me what brought this on, how it chose an amount and more importantly, how to fix it? Obviously I'm not an accountant so I just don't understand this. :( Thanks!

[Marques Ward]

A Beginning Balance Equity entry was created when you entered your beginning balances. It means that the entries you entered werte out of balance. You can edit them in maintain Chart of accts begging balances

[sugarbean]

Thanks so much for your reply. I appreciate your speedy response!

The problem is that we've been using the program since 11/08 and never had this happen before. The beginning balance is correct and has been since we set it up. This amount just showed up on Sept. 1 (in a different begbal account) and lowered our checking account by that amount. It also happened on Oct. 1st, lowering our checking account even further! So now we assume it is on a recurring basis and will continue to happen each 1st of the month. :eek: We cannot do our bank reconciliation - it is off that same amount. (It is so strange that it just began to happen in Sept. That is not the beginning of our fiscal year, it is not the beginning of a qtr. and it is not the beginning of the calendar year.)

We just want to get it out of there and can't seem to make it happen. General journal entries don't fix it and it won't let us open the actual line from the account registar like you can on any other line item. Is there any way to just remove it?

[Marques Ward]

It may be something that Peachtree's utility data verification may correct the problem. Although I dont understand why the problem occured, I think that since you can't drill-down that suggests that the transaction is flawed. that is the kind of transaction that data verification will fix.

[sugarbean]

Thanks so much for getting back to us. We will try the data verification and see if that takes care of the problem.

[SMC]

If it is a general journal entry, check the month before for a credit in the same amount. The Reverse Transaction box could have been checked by accident. That creates a reversing entry in the following month, and the reversing entry can't be edited or even opened. If you find one, just uncheck the box and resave the transaction.