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B/S by Class shows unclassified amount for Deposit of Refund of Liabilities

The Deposit Refund of Liabilities function records Payroll Liability refunds, but it has no field in which to record a class. Without a class, the Balance Sheet (B/S) by Class Report is out of balance and the amount of the liability refund shows in the Unclassified column.


Enter a General Journal entry to assign the correct class to the liability refund amount :

  1. Determine the accounts and amounts to be used in the journal entry.
    • These are the accounts that show a balance in the Unclassified column of the BS by Class. These are typically a bank account and the Payroll Liabilities account.
    • The balance for these accounts that shows in the Unclassified column is the amount you will use on the entry.
  2. In the menu bar select Company and then Make General Journal Entries.
  3. Create a new Jounal Entry:
    1. Enter the transaction date as the same date as the Payroll Liability refund.
    2. Uncheck the Adjusting Entry check box.
    3. On line one, enter the bank account for the deposit, the amount under in Credit and leave the Class blank.
    4. On line two, enter the payroll liability account, the amount under Debit and leave the Class blank.
    5. On line three, enter the bank account, the amount under Debit and enter the correct Class under Class.
    6. On line four, enter the payroll liability account, the amount under Credit and the Class under Class.
    7. Add a memo on the Journal Entry so you can identify the journal entry in the future.
    8. Click Save & Close.
  4. Open the B/S by Class report. It should now be in balance and you should no longer see an amount in the Unclassified column.
KB ID# SLN53954
6/28/2017 3:36:41 PM
QYPPRDQBKSWS08 9138 Pro 2017 f3c365