do you have a vendor with an o/s invoice with a 3150$ balance as of year end ?

Hi Roger L: I had a thought I might know which vendor this belonged to but it turned out I was not correct. I will take another look at ALL the vendors and see if there is an amount matching. I'll keep you posted - thanks, Roger L!

you could ask the accountant, should be able to tell you who it is

or you could list the 'professional fees' transactions

This is probably to accrue the accountant's fees as at year end and record the HST/GST related to that entry and then to reverse the accrual. If this is the case then it is the first time I have seen the HST/GST accounted for on an accrual entry.

Roger L: so I am not finding any vendor balances matching the $3,150. Last year the accountant told me to just use the A/P module but I couldn't figure that out so I never did it. Interestingly, THAT adjusting journal entry from 2013 DOES match the $3,150.

At any rate, I have since had a thought of how I might use the A/P module... it would look something like this:

Can one do an adjusting journal entry this way in Sage 50? Is what I'm doing make sense to the accountant's adjusting journal entry?

I have emailed them a screen capture of this but I have not yet heard back from them.

Thanks!

Roger L: so I am not finding any vendor balances matching the $3,150. Last year the accountant told me to just use the A/P module but I couldn't figure that out so I never did it. Interestingly, THAT adjusting journal entry from 2013 DOES match the $3,150.

At any rate, I have since had a thought of how I might use the A/P module... it would look something like this:

Can one do an adjusting journal entry this way in Sage 50? Is what I'm doing make sense to the accountant's adjusting journal entry?

I have emailed them a screen capture of this but I have not yet heard back from them.

Thanks!

That entry will give you the correct ending balance in the payables account, but will not show the details in the journal.

It's probably best to split it into two entries, one to show the reversal of the accrual from the year before last, and one to show the accrual for the past fiscal year (and the 5% increase).  

Hi RandyW: thanks... do you sort of mean like how I have attempted to split things up above at the start of my post? And to do those separate entries via the A/P module like I've screen captured immediately above?

Just courious, how often are adjusting journal entries done via the A/P module?

Yes, enter one of the lines of the transaction you've shown, for each of the two transactions.

Any transaction that affects one of the linked modules (unless it's a correction for the module detail not matching the GL) will have to be done through that module.

Your accounting firm could send you a bill just before the end of the fiscal year in order for you to record the liability before they start, if they already knew how much they were going to be billing you.

RandyW: thanks so much! Here's the kicker now - the accountant got back to me and said to create a temp account, 2105 just after 2100 A/P, to put this item into to sort out later. That will allow me to at least get my adjusting journal entry in for now. Turns out that is for his fees. Right now he is super busy for tax time, so he said over the summer we'll figure out where the 'issue' is. So we'll see then I guess! Thanks again!