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Closing balances for Balance sheet

Former Member
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Hi,

We have started enteries a our customer from 01/04/2011 with the opening balance. after audit there balance sheet is finalise in month of september ie current month.

can anyone let me know how to enter the adjustment balances if there is any diffrence in the account balances.

Accepted Solutions (1)

Accepted Solutions (1)

Former Member
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Hi,

Usually adjustment Journal entries made for this.

Regards,

Datta Kharat

Answers (5)

Answers (5)

Former Member
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Ok thanks

Will work with the balance and post thread if i face any problem

Former Member
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can any of you let me know if there is difference in stock then how to manage it

Former Member
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Hi......

You can manage this difference in stock through stock reconciliation.......

Go to Inventory> Inventory Transaction> Inventory Opening Balances, Inventory Tracking, and Inventory Posting--> Inventory Tracking Tab and put the counted stock (Actual stock).

Then go to Inventory> Inventory Transaction> Inventory Opening Balances, Inventory Tracking, and Inventory Posting-->Inventory Posting. Enter the difference........

Regards,

Rahul

Former Member
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Thanks Guys

Former Member
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Hi.......

You can make adjustments by two ways.

1. By Manual Journal Entry

2. By Opening Balance adjustment under Administration Module

Regards,

Rahul

Former Member
0 Kudos

HI

You can perform adjustment Journal entries for your adjustments...