Reclassification Journal Entry Template
Document reclassifications between GL accounts for proper financial statement presentation. Track all reclass entries in one place.
How to use this template
Identify presentation needs
Determine which GL accounts need to be reclassified for proper financial statement presentation. Example: move certain expenses to COGS.
Document reclassification logic
For each reclassification, document which accounts are involved, amounts to reclassify, and the reason (e.g., 'For financial statement presentation only').
Create the journal entry
Record reclassification entry: debit target account, credit source account. Include reference to supporting analysis.
Verify trial balance
Confirm reclassification entry doesn't change total equity or net income. Trial balance should balance before and after entry.
File and communicate
Document the reclassification purpose and amounts. Communicate with auditors that these are presentation entries with no economic impact.
Why use this template
- Ensures GL structure supports multiple reporting requirements
- Makes it easy to adjust presentation without GL structure changes
- Provides transparency to auditors about presentation-only entries
- Simplifies period-over-period comparison of results
Related templates
Prepaid Expense Workpaper
Track and amortize prepaid expenses with a structured workpaper that keeps your schedules accurate and audit-ready every close.
Close ManagementStandard Month-End Close Checklist
A comprehensive checklist to ensure nothing falls through the cracks during your month-end close. Track every task, owner, and deadline in one place.
Close ManagementClose Calendar Template
Plan out your entire month-end and quarter-end close timeline with a structured calendar. Coordinate across teams and set clear deadlines.
Ready to streamline your close?
Vergo turns templates into automated workflows with real-time collaboration, integrations, and AI built in.