M2 Current Liabilities

Where adjustments are required to current liabilities, use this workpaper to record these adjustments.

Enter adjustments required

Using the table provided enter the required details of the items which require adjusting. Record your assumptions using the notes function in the CCH Workpapers ribbon:

1. Code – enter the account code of the applicable account
2. Details of current liabilities – enter the account name and description of transaction in column C
3. Amount – where client is GST registered enter amount as GST exclusive and ensure corresponding journal entry also adjusts for GST component on taxable supplies.
4. Attach supporting documents.
5. Make notes regarding your assumptions using the notes function from the CCH Workpapers ribbon.

Create journal

Create a journal to record transactions that have not already been accounted for.

See Create a journal manually for further assistance.