View Single Post
  #2  
Old 02-11-2016, 01:18 PM
jdierkhising jdierkhising is offline
Registered User
 
Join Date: Jun 2004
Location: Minneapolis
Posts: 486
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 #.
__________________
I'm an independent Sage50 (Peachtree) Master Certified Consultant, please contact me if you are in need of assistance:

John@bottomline-acctg.com

Please leave me a review if you appreciated my assistance: http://bottomline-acctg.com/reviews/
Reply With Quote