"correcting" transactions

[John R. Sowden]

I have been reading a lot recently about correcting, removing, etc. 
transactions.  This is typically a no no in accounting.  I am not a CPA, 
but I have a general idea of GAAP (generally accepted accounting 
practices).  It does not allow for removing or editing existing 
transactions without an audit trial.  A simple was to do these things is 
to create "reversing entries" as general journal entries with 
explanations.  If the business owner is the only person using gc, and 
the resulting reports is only for his/her use, this is more of a 
formality, but if a bookkeeper/embezzler is using gc, this allows 
transactions to be hidden/altered.  Not a good thing.

John