I have my first client and I'm feeling overwhelmed. It's a school and they classified all of their transactions as Owner's Equity. My suggestion to them (I think) would be to have me reclassify each transaction properly, as an expense, income, etc.
My question...by reclassifying their entries, will this correct their balance sheets and other reports. I believe it would but I'm a newbie and want to be sure.
Solved! Go to Solution.
Thank you MikeinBC! I'm a little nervous since this is my first client, but I'm reassured because you guys are such a supporting and helpful community!