Hi Esmeralda. Open the transaction in 1-3 and then click the calendar icon in the upper right on the toolbar. This will allow you to change the posting period. This only works for transactions posted directly in the journal (from 1-1, 1-2, and 1-3). Other types of transactions would have to be changed in the source record.

Thank you for your prompt reply. As directed, I opened the transaction under 1-3 and changed the month and year to the intended date then I saved it by clicking the disk (upper right hand corner). However, when I go to the balance sheet and the income statement, the entries do not appear on it. Also, when I go back to 1-3 and pull up the journal transaction the month (calendar icon) is still on July. I'm perplexed as what to do next. 

Hi Esmeralda

What kind of transaction created the entry?  If it was a payroll record, AP invoice or anything besides a regular journal entry, GL check, or GL deposit the instructions will be different.  We need more info or a screen shot of the GL record in 1-3.

The period the transaction is posted to is at the bottom of the record. What period were you wanting to post this to? The date is in December 2021 and the period it's posted to is also Dec 2021. Is this correct?

If I'm understanding you correctly, this journal transaction that I entered last week for changes that needed to be made for December 2021 is already completed? And if so, why can't I see the adjustments when I go to the balance sheet and income statement for year 2021? 

Based on the posting period of that transaction, those adjustments should be reflected in the balances ending December 2021. If not then it might be the balances are not calculated correctly. So, what you can do is go to menu item 1-6 and select Recalculate Balances, then run the report again. You will need to get exclusive access to the database in order to recalculate the balances. To verify, when you run the report you can drill down on the accounts from that transaction to view the detail of the balance and see if that transaction is part of that detail.

Based on the posting period of that transaction, those adjustments should be reflected in the balances ending December 2021. If not then it might be the balances are not calculated correctly. So, what you can do is go to menu item 1-6 and select Recalculate Balances, then run the report again. You will need to get exclusive access to the database in order to recalculate the balances. To verify, when you run the report you can drill down on the accounts from that transaction to view the detail of the balance and see if that transaction is part of that detail.

This may be redundant but just to be clear, I should recalculate the balance even though July month is appearing on the calendar icon?

Yes. The number at the top in the calendar icon is the current default posting period for the company. The posting period for the transaction record you are looking at is in the footer of the record.