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It is best to record most of the checks, deposits, general journal

entries, etc before you close the month. However, if there are some

adjustments you wonþt know about for many days, then itþs best to

type in what you can now, then close out.


If there are a few checks, check book adjustments, general journal

entries or accounting adjustments that you donþt know about yet,

you can enter them after you close, in the following period, using

these steps.


1)   Enter the adjustment   Write the check, enter the

   miscellaneous transaction, deposit or general journal entry

   [choice 5-5-1 or 5-5-3 or 5-5-5 or 5-5-7]. Make sure the date

   you type is from the prior period (see the ending date). The

   transaction screen might warn you that the entry wonþt hit the

   financial reports, but continue on anyway.


2)   Change the Chart of Accounts from a Previous Month   If

   adjustments are made to previous periods, you will have to

   manually adjust the chart of accounts. Choose Enter/Edit Chart

   of Accounts [choice 8-5-1] and type in the account number.

   When the question: Do you want to enter totals for previous

   months? appears, answer Yes.


   Note that you will have to calculate the figures. For example,

   If you are entering a bank charge of $25.00 for the previous

   month, you would need to adjust the MONTHAGO 1 figure by

   $25.00. If there were already a figure of $51.00 in there, you

   would have to adjust this to $76.00.


Notes: Making a value in an asset account a greater positive number

reflects a greater asset value.


Making a value in a liability account a greater positive number

reflects a greater liability (owing more)


Making a value in an operating expense account a greater positive

number reflects more expenses.