Migration Accounts Closing & Reporting

[former_member801154]

How do you clear migration accounts at the end for the purpose of financial reporting at year-end?

dr asset cr migration account 299995 (mapped as LT liability) similar entry to liabilities and equity such that the offset to bring in the balance is to the mirgation account

All the balance sheet GL accounts have been brought over but now there's a balance in the migration account? Doesn't clearing it negate the effects of bringing in your balance sheet in the first place? Currently, it's part of the Balance Sheet such that it is balanced. If you clear it, what do you clear it to? If you don't clear it but don't report it then the Balance Sheet doesn't balance??

[AlexGourdet]

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-Alex