Drake Accounting - Adjusting Entries After Year End Close
Article #: 16355
Last Updated: October 21, 2024
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:
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Select the Clients menu, then select Restore.
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Restore the backup file created when the last period of the year was posted.
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Enter the adjusting transactions.
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Post the period.
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Process the Year End Close.
If the prior-year has been updated to the current-year, in the current-year DAS:
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Enter the adjusting transactions needed in Accounting > Transactions > Unposted using prior year dates.
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Post the transactions by selecting the Post button and marking the checkbox Post prior year transactions.
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Create reports by selecting Accounting > Reports > desired group and report using prior year dates.