AdminAndrea
Level 5

Banking & Currency

I don't believe there would be an issue against previous years FS as long as the date you are using is current year.  You can of course do the entry with today's date and then view previous statements to confirm it hasn't affected anything except the current year. 

 

If you entered this adjustment in a previous fiscal year then it would change the value in that account on that date (for instance, if your year end is Dec 31, then a change made dated 2024-07-07 would affect your 2024 financials statements).  But if you did the adjustment today, even though the original entry that you are clearing is from a previous year, then because the adjustment itself is dated today and shouldn't affect a previous year. 

 

As always you can ask your accountant for guidance and support to ensure you have captured things correctly.