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On my students financial statements, their current month and year-to-date figures do not match what is shown in the textbook?

April 26, 2017figures financial statements month students textbook Year-to-date

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On my students financial statements, their current month and year-to-date figures do not match what is shown in the textbook?

1 Answer

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10 Posted

Make sure that your students’ set the chart of accounts beginning balances for the month preceding the month of transactions. For example, if the opening balance sheet is for October 1, 2009 (textbook page 284), students must set their chart of account beginning balances for September 1 – 30, 2009 (textbook page 285, steps 2 and 3). For step-by-step directions, refer to Chapter 9, pages 283-288, Entering Chart of Accounts Beginning Balances.