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Join nowI have set up an account to track my RRF grant spending. When looking into the resister I noticed there are transactions posted, specifically payroll checks, that are in this account. They are payroll checks from 2020 so when trying to edit I am unable to. They do show as a transfer, journal entry, etc. Not sure how they got pulled into this account for my RRF. How do I clear theses transactions so my balance is correct?
Without knowing the how or why these ended up where they did, the fact that they were journal entries is a clue. Maybe it had something to do with closing out last year.. You should look at a newly run P&L and Balance Sheet for 12/31/2020 to compare with what you did use for taxes to see if these transfers have any effect. Otherwise you can reverse the journal entries with any date this year to correct it. Don't just delete the journals or transfers as that would affect 2020 year end and of course if you closed your books you cannot edit anyway.
Thank you for the response. When reviewing the bank register I noticed these entires. All in question are paychecks from last year in Dec. I recently just made the account to track grant spending this year. So they are debiting the balance of this grant account and I am unable to edit them because they are paychecks that have already cleared. I hope this makes sense. I am a novice still in need of learning :)
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