Task 4: Enter end-of-year adjustments
Your accountant is likely to provide you with a number of adjustments, such as journal transactions. If they have been provided electronically or on disk, you can import these transactions (see Importing data). If the adjustments have been provided on paper, you can manually enter them in the Record Journal Entry window.
If you send information to your accountant using the AccountantLink feature (see To export information to accountants), you can import the adjusting journals your accountant sends you. For more information, see To import nominal journals from your accountant. Make sure your accountant has sent you the journal adjustment file as a text file with a file with a .txt extension.
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Go to the Accounts command centre and click Record Journal Entry. The Record Journal Entry window appears.
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[Optional] In the Job field, enter the job number for the line item.
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[Optional] In the Memo field, enter a description of the line item.
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If necessary, change the default VAT code for the account by typing the required VAT code or selecting it from the list.
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The journal entry cannot be recorded until the Out of Balance field is zero.
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Click Record to record the journal entry.
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Click Open. The accounts are imported and a message appears, giving you the results of the import. If there are any errors, read the information in the AccountEdgeLOG file (AccountEdge) or AccountEdgePLOG file (AccountEdge Plus) which can be found in the same folder as your company file resides.
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