• RE: Part Paid Invoice - remaining balance now not owed

    Easy route: Start with a current vendor statement.

    Work from there...if it's not on the current statement, than it needs to be adjusted off.

    Your prior year P&L's are already incorrect, no point in trying to fix it....unless you're going to restate your prior year financials.

     

    Hard route: Get an account history from the vendor for each of the prior years and reconcile.

    Good luck!

  • RE: Balance Sheet- Out of Balance

    Assets = Liabilities + Equity (which includes Current YTD Net Earnings or the "P&L")

    Check your postings to stat accounts and/or other accounts that are not normally in the P&L and Balance Sheet.

    If you post something against a stat, note that it's not an Asset, Liability, Equity, Revenue or Expense....that can throw off your balance.