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Author Topic:   New Year and Transactions by Account Summary
ssicfo
Member 		posted 01-10-2002 03:34 PM     Click Here to See the Profile for ssicfo   Click Here to Email ssicfo     Edit/Delete Message
When I start my new year and have a balance in Accounts Payable for payee ATT for $100. I am now in the new year and write a check to ATT for $100. ATT now has a debit balance of $100 and my account balance is -0-. If Uncleared items are brought forward is there a way to make ATT have a the correct balance of -0-

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Pamela
Member 		posted 01-10-2002 04:02 PM     Click Here to See the Profile for Pamela   Click Here to Email Pamela     Edit/Delete Message
Your starting account balance for the payable in the new year should not change (unless you change it in the prior year and Update Starting Balances again.)

Therefore, even if you Update Starting Balances again, the payable starting balance will stay the same. The payment made will still zero out that payable account on the transaction date in the new year. Making that payment zeros out the payable's account balance, not the starting balance.

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