From the information written, I understood that basically, it is an Opening balance difference coming from the previous year & getting carried forward to C.Y, in this case, you can make some audit Adjustment Entries in the respective head in order to rectify the previous year's error
But before doing anything further adjustments it is better to check with your senior.
15 January 2024
Opening balance difference can also be nullified by passing REVERSE ENTRY in the previous year. (Debit GLs which have a credit balance and CREDIT GLs having Debit Balances) In this way the year starts with Opening balance as per the ledger plus transactions during the year will be included.
CAclubindia
