Because debits must equal credits for every entry, RealWorld General Ledger will not accept a one-sided journal entry. However, occasionally it may be necessary to adjust one account without affecting how others are reported on the financial statements.

Use the steps below to adjust a single account.

1. Create a new account such as 9999 (of 9999-999 if profit centers are used.) When creating the account through the General Ledger package, this should be a "B" Balance Sheet type account. It can be enclosed in parentheses for either debit or credit--that doesn't matter.

2. Do not add this account to any financial statement layout.

3. Make the necessary general journal entry by debiting or crediting the account that must be corrected. Use Account # 9999 (the account referred to in Step 1) as the off-setting account.

4. Prior to running "Process end of Year" in General Ledger, change the account from a "B" Balance Sheet type account to a "P" Profit & Loss type account. When "Process end of year" is run, all profit and loss type accounts will be zeroed out, including the 9999 account (account referred to in Step 1.)