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October 8, 2021
Question

How do i clear my 2018 discrep report. it journal entries. I want it off my p and l report. thanks

  • October 8, 2021
  • 1 reply
  • 1 view
there shows 20000 on my p and l from discrep in 2018 and 2019. There are journal entries by my accountant. I would like them off my p and l statement. TY

1 reply

Rustler
Level 15
October 9, 2021

This is a hard one to understand, you have an accountant, first he allows for a 20K discrepancy and then you do not ask the guy you are paying to do this kind of thing, how to get it done.

 

A discrepancy means you can not account for that much money, it left the bank and you have no idea.

 

To get rid of it, you need to move it to income or an equity investment. Use a journal entry, debit income or equity and credit the discrepancy account (assumes it is positive on the P&L)