Hello there,
In November we discovered that we recorded our October prepaid rent to Rent Revenue. We already closed our November book.
Are we allowed to restate (correct) the error in November financial statement; Dr Retained Earning and Cr Rent Revenue or do we have to wait until we close our FY book?
Thank you all for your help.
In November we discovered that we recorded our October prepaid rent to Rent Revenue. We already closed our November book.
Are we allowed to restate (correct) the error in November financial statement; Dr Retained Earning and Cr Rent Revenue or do we have to wait until we close our FY book?
Thank you all for your help.