Hi, my name's Mike. I am just finishing up an extensive amount of catchup that necessitated a great many postings to prior years, and I've noticed looking at the balances for the month immediately following the year-end that the closing totals haven't seemed to be affected by my postings.

For example, if an account has a closing balance before the YE of $10,000 and I put through various postings to prior year that adjust the total down to $8,000, going into the month after the YE still seems to calculate the balance off the $10,000 number, not the $8,000 one.

How would I adjust this? I've figured out an inelegant solution involving postings to the first day of the new year, but I'm curious if there's a better one.

Thanks for your time!

Mike:

I would not recommend tying to fix the prior years closing balance by posting an adjustment to the current year opening balance. Why the balances are incorrect is a question that can only be answered by investigating the actual posted data, which is not something that can be done over a forum. You should contact your Adagio consultant for assistance.

Hello Mike,

I'm with Doug, that you may well want a second pair of eyes to look at what is happening.

My first question would be, how are you checking the opening balances of the next period? Are you printing a Trial Balance or a Financial Statement? What does the GL Detail Listing show? Were the postings to P&L accounts (in which case they would have automatically been closed to Retained Earnings when they were posted). When you posted to the prior years, did you post to the year end adjustment period, or to a period within your fiscal calendar? If you posted to the adjustment period, did you remember to include it in whatever report you are inspecting?

And finally, what version of Adagio Ledger are you using (see Help | About)?