How do I make a balance adjustment transaction?

ptladasue

I am using Windows Classic Deluxe Version R68.31 for our church financial records. Everything from transactions to reports works great. However, I have a check that was written in a previous accounting period. That check was lost and now I need to replace it. What is the best way to do this without affecting the previous accounting period while not affecting the current cash balance. I was told by Quicken Chat that I should just write a new check in the current accounting period and not assign a category. That leaves the transaction in the previous accounting period but affects the current cash balance. In an accounting software program you could do an adjusting journal entry but what is the best way to do that in Quicken? Is there a balance adjustment transaction that I am not familiar with or do I reconcile the difference when it comes time to reconcile the account with the bank statement at month end? I will appreciate any advise or suggestions.

Thank you

Tom Young

One way of doing this if you don't want to any way "disturb" prior periods is to write a "reversing" entry in the current period of the missing check, using the same Category the old check used. Then write a new check for the old missing check using the same category as the missing check used.

The result is that the current correct balance is unaffected and there's no net effect in the current period for those entries.

I'd modify the Memo field for the old check to explain that the check was lost and a new check issued in the current period.

And in the current period with those two offsetting entries I'm also put some info in the Memo field, referring back to the old check.