HappyInOregon
Instructor
We have a client who created a new equity account. The client posted an AJE to the account debiting the equity account and crediting an income account. The client's Profit & Loss report includes the credit to the income account but the Balance Sheet for that period is out of balance as the equity account does not appear on the report. Does the client need to format the Balance Sheet or is there something missing when the equity account was setup? Any suggestions would be greatly appreciated