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BlueDarren
November 14, 2023
Question

Modifying SEP contrib year in P&L Prev Year Comparison Report

  • November 14, 2023
  • 1 reply
  • 0 views

Running Profit and Loss Prev year comparison report and a catch up SEP contribution was made this year, but belongs in 2022.  Is there a way to move this line item from 2023 to 2022?

1 reply

Candice C
Candice C
November 14, 2023

Good afternoon, @BlueDarren. 

 

Welcome to the Community! I'd be more than happy to provide you with some information to help answer your question. 

 

I can see how beneficial this could be to change the year for the SEP contribution on your Profit and Loss report. However, you'll need to edit the payment date itself to move it to the correct year. 

 

I'm only a post away if you need any more assistance. Have a great day! 

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BlueDarrenAuthor
November 14, 2023

Thank you for the quick response.   So would you say it would have no lasting problems if I modified the date, Ran the P&L, and corrected the check date?   Thank you again,

JessT
JessT
November 14, 2023

Thank you for coming back with additional details, BlueDarren!

 

I can see that my colleague's response was based solely on your statement, "the transaction belongs to 2022." This led her to suggest changing the payment date. However, altering the date to a time in 2022 will certainly impact your 2022 and 2023 records. Therefore, it's a good idea to have an accountant professional to ensure the accuracy of your books.

 

You can always go back to this thread if you have any other questions about reports. Take care and have a good one!

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