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changes to fund balance

Bevash
Level 1

Due to voiding some checks from a previous year there is an adjustment to the fund balance.

where on the tax forms to I record this.  I am getting error messages and this is the exact amount because the beginning balance was adjusted in  my books 

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2 Comments 2
IRonMaN
Level 15

If the voided checks were significant, you should amend the prior year return.  If they were piddly, adjust the current year expenses for the voids.


Slava Ukraini!
Accountant-Man
Level 13

If the prior year tax return was completed before those checks were voided, then they were already deducted. Either amend the prior year, or make adjustments in the current year instead of voiding them.

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