A user incorrectly entered the bank balance on last year's balance sheet and is seeking advice. They want to know if they need to revise the previous year's balance sheet or if an adjustment entry in the current year would suffice. The suggested solution is to pass an adjustment entry in the current year.
27 May 2020
Dear Experts, I had put the bank balance wrong in the balance sheet of the last year. Do I have to revise last year balance sheet or Will there be any such adjustment entry. please suggest me.