Hi Moderators/ Forum memebers
This is a self- inflicted bug that I discover just today.
I was doing EOFY Journal which effected Tax Payable as some opening balances were not entered and I wanted to tidy up the balance sheet as the business was coming up to EOFY and as it was a new file created in August last year , the matching to Accountant generated FStms had not been done.
I was trying to make balances match as I saw the tax payable account had a wrong opening balance as I had been hesitant to do anything with that account as it being a type of control account.
When I entered the opening Balance using the opening balances area , the Tax Payable account suddenly shifted from Liabilities to Equity area and for the life of me , no matter what i do I can’t get it to shift back to Liability area.
I know this will have been caused by my entering an opening balance and I may have changed it from debit to credit number which is what triggered the change I think as when I made first entry it stayed in place but when I realised I had to change the debit to credit or credit to debit number , that is when it dropped to the equity area.
I would like it to reflect properly , I am asking if this is can be looked into . Thank you for your consideration.