@DeannaAEMMaking an adjustment to allow you to start reconciling 2025 is a band-aid, but if you still want to do it, reconcile through 12-31-24 using the 1-1-25...
@M4MUThe AJE should be dated 1-1-26, not 12-31-25. You want the year-end 2025 balance sheet to reflect the total distributions taken in 2025. If you date it 12-...
@Farm10Create an 'Other Current Liabilities' account called Loan Payable XYZ Bank.Assign the $50K net deposit to that account. At this point, you have a $50K de...