Hi there, would like some help here.
My year end is 31 dec, 2012 is my first year in QF. I have just done the year-end process with 2012, and getting the attached P&L and Balance Sheet, as well as the year end journal.
I am in the process of filing 2013 accounts (P&L and Bal Sht as attached), what I am not sure is as to why 2013 BS is showing ‘accumulate’ figures as in figures on 2013 BS is that of total of 2012 and 2013.
Should I have journaled these out when processing 2012 year? end and if so how should I do it? (2012 year end journal as attached)
Any help is greatly appreciated.2012 and 2013.zip (508.7 KB)
Hi folks, any taker on this one please? should I provide more information?
Even anything glaringly obvious and trivial would be appreciated…
Thanks.
Your Balance Sheet should always show cumulative figures even if you’ve run your year-end as it’s tracking the all time balance of assets and liabilities. When you run the Y/E in Quick File it will move the profits into Capital and Reserves.
Many thanks for reply, Glen. Good to know it’s not something has been done wrong. It would be useful though to be able to see BS year on year as for P&L, is there plan to include option to select date range for BS like that for COA and P&L etc? As accountant only wants BS for the year for which he files the accounts.
No problem.
A balance sheet should always show cumulative balances otherwise it’s not really an accurate balance sheet. There should only be an end date on the balance sheet and the start date is always assumed to be from the date of the first transaction.
If you want to see activity from x date to y date on all balance sheet codes (0-3999) you can do this from the Chart of Accounts area.
That’s useful to know. Thanks again for your help.
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