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Re: Trial balance is off

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March 04, 2013 09:11AM
It is showing assest depreciation entry dated 2/1/12. How can that be? I don't do anything with that account other than put in the depreciation amounts.

The amount is on a piece of equipment we traded in on a purchase. That trade in was done on 1/30/13. The piece of eqpt that was traded in was purchased on 3/29/11. I have done the year end as of 1/31/11. I have not done the year end for 1/31/12 yet.

I can not print a balance sheet for my tax accountant now. He needs one.

Would it have been as simple as me going in and taking out the -1650 on the assest depreciation for the current year?
I did that and now the problem is gone. I never have understood how the asset depr part works exactly. How it figures the current year and sometimes puts a negative amount.

I printed my cash & accrual trial balances and they are both in sync now.

Edited 3 time(s). Last edit at 03/04/2013 09:23AM by Becky Newell.

Trial balance is off

Becky NewellFebruary 27, 2013 02:12PM

Re: Trial balance is off

Kathy ClineFebruary 28, 2013 01:03PM

Re: Trial balance is off

Becky NewellMarch 04, 2013 09:11AM

Re: Trial balance is off

Kathy ClineMarch 04, 2013 11:09AM

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