I set up a new company beginning in 2020 in Avanquest Bookkeeper software. I have opening balance set up, but need to post a deferred-income amount from the previous year. I tried setting the date in 2019 and making a journal entry, but it doesn't carry forward. Can anyone advise how I shoud do this?
USA Posting deferred income
- Thread starter Qwimby1
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- Dec 5, 2020
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Never used Avanquest Bookkeeper software, and you may find faster/better help contacting their customer support team than asking on this forum. Unless you're lucky enough to find someone who knows the software (but I've never even heard of it)!
As for the accounting theory behind your particular issue, why would you book in deferred income for new company beginning in 2020? How does that relate to the opening balance set up? Not sure what you're asking for here.
As for the accounting theory behind your particular issue, why would you book in deferred income for new company beginning in 2020? How does that relate to the opening balance set up? Not sure what you're asking for here.