Balance Sheet Adjustments (Manual Journal Entry)

Go to Budget > Account Maintenance > Adjustments > Adjustments tab, click on the Add Adjustment button.  Then select the Balance Sheet option.  Enter the description you want, then click Add.

After you click Add, the following screen opens.  The date is automatically set to the current date and you should n the date that you want the balance sheet adjustment posted to your books of record.  

Notes - if you enter a note here, be sure to click Save in the top part of the screen where the notes are entered.  Otherwise, they will not be saved.

Documents - you can attach any supporting documents for this transaction, if you choose.  Click on the Attach Documents button and navigate to the location on your computer where the document is saved.

To add the entry:

• Click on the Add Entry button.  When the window opens, enter the account number.  Enter the Debit Amount or the Credit Amount in the appropriate box and enter a note if desired.  Click the Add button.
• After the entries are made, click the Post Transactions button.
• You will always have the option to Roll Back or unpost an adjustment.  This button will appear after the adjustment is posted to your books of record.

Balance sheet adjustments MUST BE to be balanced at the Fund level. 

The District CAN NOT enter a Balance Sheet Adjustment against a control account.  That is to ensure the subsidiary ledger properly reconciles to the General Ledger Balance Sheet Account. 

The control accounts are:

• XX-301  Estimated Revenues
  
• XX-302  Revenues
• XX-303  Budgeted Fund Balance
• XX-421  Accounts Payable
• XX-601  Appropriations
• XX-602  Expenditures
• XX-603  Encumbrances
• XX-753  Reserve for Encumbrances - Current
• XX-754  Reserve for Encumbrances - Prior

When Posting opening balances / audit adjustments, the District may want to consider replacing any control account with XX-770, because when the general ledger is closed at the end of the year, all of the control accounts are closed out to XX-770.   The District can, alternatively, utilize any other Balance Sheet account for the transaction.