Trail Balance Report not displaying right amounts

Freaky

Hey Guys, I have closed my fiscal year for 2010. After Closing, what I think should happen is that when i run the report for 2011 the Net Change should be the same as the balance amount for the income statement accounts but apparently this is not the case. If I am right then why is the net change amount different from the balance amount. Please assist.

Thanks in advance.

ssingla

It is very difficult to help without the details of the balances in front but I will try.

You should go to Chart of Accounts and provide a flow-filter "..C12/31/2010" (assuming year 2010 closes on Dec 31st) and check if there is any balance/netchange appearing in the accounts. If yes then you will have to investigate as this must be causing the difference.

Alex_Chow

Freaky wrote:

Hey Guys, I have closed my fiscal year for 2010. After Closing, what I think should happen is that when i run the report for 2011 the Net Change should be the same as the balance amount for the income statement accounts but apparently this is not the case. If I am right then why is the net change amount different from the balance amount. Please assist.

Thanks in advance.

Net change is only the transactions for the period you specified. So in this case, you're running the report for 1/1/2011 to 12/31/2011, so of course the transactions listed will only be whatever filter you set.

For balance sheet accounts, you should be running your filter ..12/31/2011. For income statement accounts, it should be 1/1/2011..12/31/2011.

Freaky

Thanks Guys for your help was able to figure it out.

Thanks again!