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Adding a new account to the Trial Balance by Journal Entry

If the account you need to adjust is not listed in the client trial balance, you can easily add a new account during the Journal Entry process, as per the below instructions:

  1. Complete steps 1 through to 6 of Processing a Journal topic above;

  2. In the dropdown box select the Create New Account option;

  3. Type in an account number for the new account;

  4. Provide the new account with an appropriate description;

  5. Select the account type from the drop down menu;

  6. Next, assign the new account to a lead schedule;

  7. Continue filling out the remaining fields as you would to process a normal Adjusting journal;

  8. Your new account and adjustment have now been completed.

 

TIP: If you do not know the clients account number required, use a unique account number to avoid duplication with the client's accounts (e.g. AUDIT1)

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