Backpost Adjustments

Use this program to file an adjusting journal entry in a previously closed accounting month to correct errors or update accounting records. Some of the more common uses of this program are to enter adjusting journal entries into a closed year's accounts and to enter forgotten journal entries which must be reflected in the month in which they were intended, not just in the current month. After you enter the adjusting entry, TAM reposts and adjusts all General Ledger account balances from the selected month to the last month posted. After the adjustment has been posted, rerun all financial statements and reports for the months affected by the adjustments.

To use this option, you must have defined a Retained Earnings account in your chart of accounts as a type Equity and group Net Worth in case the net profit or loss is adjusted.

Although several options are available through this program, backposting should be viewed as a process. As such, the steps below present the process to backpost an adjustment with the use of those options.

  1. At Home Base, click the Accounting button.
  2. Click Journal Entries.
  3. Click Backpost Adjustments.
  4. Double click in the Agency field to select the desired agency. If only one agency has been installed, no agency code is required.
  5. The current accounting month and last month posted default in their respective fields. Enter the month and year for which to backpost the adjusting entries. TAM adjusts all months from that month through the last month posted.
  6. Enter the adjusting entry the same way you would a regular journal entry. Remember, debits must equal credits.
  7. Review the entry to ensure that all information and figures are correct. Click OK to post the adjusting entries to the appropriate General Ledger accounts and adjust the account balances as needed in the selected month and subsequent months up to the last month posted. Click Yes to confirm the entry.
  8. A message displays warning you that the balances of the involved accounts will be affected. Click OK to complete the procedure.
  9. Click Cancel to return to the Journal Entries screen.
  10. Rerun all financial statements and reports for the months affected by the adjustments.