Account Balance correction
Hi. We need to put fresh GL balances as on a certain date for all accounts. (A certain number of entries have been done before this date but they are not correct/complete. Hence the account balances are not correct.)
It is a big task to either correct all balances by passing correct entries or to pass reverse entries for all accounts to make the balances zero.
We are looking for a way to :
a. Either delete all transaction data for all accounts upto that date thus making the balances zero
b. Or to Initialize the records so that we can do a fresh upload of balances on a particular date and do entries after that date.
c. Or to archive the data upto the cut-off date and then delete it from the database. That should leave us with zero balances.
Can anyone help with this? What would be the best way of doing this?