General Ledger Dump and Year End Closing

adamandeve club adamandeveclub at
Wed Oct 5 01:32:39 EDT 2016

Hello, Michael or Penny,
When my initial year’s reports were created I found that, for my club, memberships paid prior to balance date were listed as Equity within the cheque account (our only asset is the cheque account balance). This meant that the club’s membership income for this past year included the amount paid in prior to balance date. I have no idea how that happened! Perhaps I entered an initial balance as an asset in ‘Income Membership’? Oh, the date at which it was entered was 45 days into the then new year, but I have no record of having done so.

Now I have changed my dates to the new financial year but I can find no way to replicate last year’s membership income paid prior to balance date. It just sits in last year’s membership income account. The opening equity of the club, being its cheque account, seems not to allow me to divide cash at bank into a membership prepaid (a different form of asset from accumulated cash) and equity carried forward. Fortunately, this is a small amount, so I will have no trouble manually adjusting the year’s income to reflect actual membership income for the year, but it would be nice to know what I did last year and whether I can do it again!

John Nightingale,
Adam and Eve Social Club Inc

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