Adding YTD Balances to G/L

[xiozen]

Started a property management company and have first client. Started the accounting as of Nov. 1st, but need to feed the YTD balances from Jan-Oct for year end, etc.

Accrual Basis

How can I add the YTD income and expenses on the G/L? I tried putting them in as credits/debits dated 10/31/12, but this creates YTD balances on the Balance Sheet and Income Statement dated 10/31/12 which I want to show my client as beginning balances that match the last financials they received from their old property management company.

Any help would be greatly appreciated!

 

[kirby]

If you have month end statements from the former company you could calculate the net month end entry for each month and post that to each respective month. So your oct report would show the correct oct month results and the correct year to date results. Also, by doing this your jan 2013 results can be compared to your jan 2012 results

 

[tdendy]

You need to enter expenses and income month by month for 2012 as stated by kirby so that you can get monthly and quarterly statements for 2012.