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The Accounting CS application requires that all transactions you enter be balanced; therefore, there are very few ways your Chart of Accounts can become out of balance. The information below describes the possible ways to become out of balance and how to correct the problem.
Identifying that the Chart of Accounts is not balanced
There are three ways that the application will indicate an out of balance Chart of Accounts.
- The Enter Trial Balance screen displays the total amounts in red filled boxes on the bottom row. Show me.
- Reports (such as the General Ledger or Trial Balance - Detailed) will display "*OUT OF BALANCE*" beneath the total. Show me.
- When you attempt to close the year, a dialog will be displayed that says "All periods must be in balance to close the current year." Show me.
Scenario 1: Importing a spreadsheet
If you imported Beginning Balances from a spreadsheet that was not balanced before the import, your Chart of Accounts will also not balance. Use one of the following methods to balance your Chart of Accounts.
Note: If you imported Unadjusted Balances from an unbalanced spreadsheet, the application updates the 999 - Undistributed account with the difference so your Chart of Accounts remains balanced.
- Re-close the year and use the prior year ending balances as the beginning balances.
- Re-close the year and zero the beginning balances.
- Manually edit the beginning balance for any accounts with an incorrect balance.
Scenario 2: Manually updating amounts on Enter Trial Balance
The Actions > Enter Trial Balance screen allows you to modify an account's beginning or unadjusted balance. However, the application does not require you to offset this change in activity nor does the application automatically balance your Chart of Accounts. Use one of the following methods to undo or correct the change that was made.
- Locate the account on the Enter Trial Balance screen with an incorrect amount and change it in the Unadjusted balance column.
- Find the activity transaction on the Enter Transactions screen.
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