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CrossWalk of Beginning Balances
02-11-2010, 11:01 PM,
#1
CrossWalk of Beginning Balances
Hello All

I'm requesting a little guidance please. I have crosswalked year end balances from the previous year end as beginning balances for the new year. This was done via the passing of journals due to the fact that we were using a new Chart of Accounts for the new year and as a consequence accounts etc were different from the Old Chart.

The use of a suspense account was used to facilitate the crosswalk. However, there is an ending balance that still exists in the suspense account which I know shouldn't be. The balance on the suspense account should be NIL.

What account must I use to clear the balance that exists on this suspense account. Your assistance and guidance would be very much appreciated.

Thanks.
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02-12-2010, 12:03 AM,
#2
 
Your accounting has not been correct regarding one or more entries. Only if you provide us with the details of the transactions will we be able to figure out which account needs to be adjusted to eliminate the suspense account
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