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-   -   voiding beginning balances (http://forums.peachtreeusers.com/showthread.php?t=22334)

bidwell11 02-09-2016 10:17 AM

voiding beginning balances
 
several years back I made a mistake and entered some expenses incorrectly.
When I set up the expense account I did not hit the expense key. Now every year I start the year with a balance carried forward. Is there anyway (without going back several years) to delete this beginning balance?

jdierkhising 02-11-2016 01:18 PM

It would probably be easiest to manually fix this. That expense balance should roll into Retained Earnings so you could manually make a journal entry and credit the expense and debit Retained Earnings as of 01/01/2016. I would then inactivate that account and make a new version with the proper Expense type GL. I have seen issues with balance sheets getting out of balance if you just change the account type from Cash to Expense.
If you need this fixed for 2015, make a journal entry as of 1/1/15, then make a second as of 1/1/16 for the difference and then move forward with the new account. Any activity in 2016 in the account can be manually changed by editing the transactions to go to the new account #.

Lewis-H 04-21-2020 05:24 AM

Here's how you can void a cheque in QuickBooks:

At the top menu, click Vendors and select Vendor Center.
Highlight a vendor name, and double-click the cheque you want to void under the Transactions tab.
At the top menu, click the drop-down arrow below the Delete button
Select Void.
Click Save & Close.
Click Yes to Confirm.


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