Drake Accounting®: How do I make adjusting entries to the Chart of Accounts if I have already closed the year?
The process used to make adjusting entries after closing the prior-year DAS depends on whether or not that year's Chart of Accounts has been updated to the current year of DAS.
If the prior-year has not been updated to current year:
- Select the Clients menu, then select Restore.
- Restore the backup file created when the last period of the year was posted.
- Enter the adjusting transactions.
- Post the period.
- Process the Year End Close.
If the prior-year has been updated to the current-year, in the current-year DAS:
- Enter the adjusting transactions needed in Accounting > Transactions > Unposted using prior year dates.
- Post the transactions by selecting the Post button and marking the checkbox Post prior year transactions.
- Create reports by selecting Accounting > Reports > desired group and report using prior year dates.