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Wrong transfer date

GerwaldGerwald Member Posts: 8

I set-up a company in Wave and transferred its accounts from Simply Accounting. For that I created a chart of accounts in Wave, and transferred the Trial Balance from Simply Accounting as at December 31, 2019 to the Chart of Accounts in Wave.
However, instead of posting the balances as "Ending Balance" Dec 31. 2019, I posted them as "Starting Balance" Jan 1, 2020. As a result, all my subsequent entries in 2020 just become add-ons to the Jan 1 balances instead of starting from zero.
Any way to fix this, other than archiving the company and starting all over again?
Many thanks for any help!

in Account Settings Technical Support

Comments

  • MikegMikeg Member Posts: 995 ✭✭✭

    @Gerwald,
    How did you enter them? Via journal entry?

  • GerwaldGerwald Member Posts: 8

    Mikeg,
    Yes via journal entry

  • MikegMikeg Member Posts: 995 ✭✭✭

    @Gerwald,
    Then you can just change the date of the journal entry. Go back to the entry and adjust the date of the entry.

  • GerwaldGerwald Member Posts: 8

    @Mikeg
    Thank you. I will try

  • GerwaldGerwald Member Posts: 8

    @Mikeg Thank you!
    I changed every entry & all is now OK. This of course is not doable in Simply Accounting, where
    a counter-entry would always be required. I wonder how a business owner could be protected with Wave if a dishonest bookkeeper were employed!

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