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21st Century Accounting Help - General Ledger

Keeping Historical Periods in Balance

At the bottom of the amount column in the Configure/Historical Balances window, you see that the system keeps running Trial Balance, Net income (loss), and Balance Sheet totals to help you balance each historical period. Enter period activity for each period from the printed financial reports from your previous books.

If you throw the period out of balance by making an entry to an account without making an offsetting entry, the system displays an out-of-balance error. Make an offsetting entry to restore the period balance. Make sure that your own historical books are in balance before entering the data into 21st Century Accounting.

The Trial Balance and Balance Sheet totals must be zero before you can save the period entry.

The calculated net income or loss must equal the historical amount you have entered for the income transfer account before you can save the period entry.

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