How to Create a Journal Entry to bring over 1099 Cutover Balances using an Equity Historical Balancing Account

Overview:

In this article, there will be instructions as to how to bring over commission balances for 1099 reporting purposes using an Equity Historical Balancing Account . Please find the available resources below.

For information on how to bring over 1099 Cutover Balances without using an Equity Account, please click in this link. 

Quick Reference:

Link to Full Step-by-Step Guide