MQA
Level 1

Employees and payroll

Hi Michelle,

 

Any reason not to just create the new check and post it to the same checking account? This creates the deposit as you suggested and reissues the check in one simple entry. Then nothing touches the prior year P&L and the Balance sheet doesn't change. It does show the deposit as a check but that's no more strange than marking a check as cleared when it didn't! :) 

 

Any fault in this logic?

 

Thanks!