Our accounting cycle ends 12/31/year and closing entries are made then. If I run a Balance Sheet early, say on 11/1/year, will the temporary account information (eg. office expense) automatically show up in the Balance Sheet? Or, will it only become part of the Balance Sheet if I were to make a journal entry transferring the temporary account (office expense) to the Liability account on 11/1/year? In order to make my Balance Sheet accurate as of 11/1/year. Thank you Community for always having great responses. Be well-Student ABC.
