P&L Account on Balance Sheet = £18,953.02
Profit and Loss Report = £16,479.68
Yikes, what has happened?
Looks like some income posted outside P&L dates, what is your year end? Is it first year?
Its not the first year. I have posted some transactions today relating to pre 31/12/17, but they should all be picked up okay surely
What are the P&L report dates and BS date in question please?
P&L 1/1/17 to 31/12/17
BS at 31/12/17
Double check on dates of transactions posted, any journals hitting P&L reserve a/c directly?
No, I have also checked those accounts to see if there any postings in there, and they are clear
Is YE 31/12/2016 locked? Do P&L & BS reserve for 2016 match?
No, they are not locked, and they do not match, but they did last year
You can run P&L report for 2016 and if you have saved matched report from last year, you can see line by line which categories are out.
Also how much is total for new transaction posted today as mentioned above? If any of those transactions dated prior to 1/1/2017 that will cause difference in 2016 P&l & BS and will continue in 2017 especially if 2016 year end routine journals are done and period not locked
The total of transactions posted today is nowhere near the difference.
TB, overall, balances so it is goinf to be somehting in a transaction date somewhere - lord knows where though.
It requires drilling and grilling , QF Support would have access to your a/c, I dont so lets wait for them
Okay, but thank you fopr your help
Cheers. QF Angels - over to you
Doh : BANGS HEAD VERY HARD ON THE TABLE
The difference is the P&L account surplus of the previous year. Its still a bit quirky though, Id expect the P&L and BS reports to be consistent.
Part of the problem may be that we have not run Y/ens on earlier years, No excuse for that
P&L Account figures should be same in P&L report and BS, retained earning are shown separately
The tooltip on the P&L line on the balance sheet spells this out - the balance sheet P&L is an all-time figure and will be the total of all years for which you have not yet run the YE process (which zeros all the P&L codes at that date and moves the balance to retained profit).
The ‘Year End’ process dropdown does not seem to be present
Found and sorted. Many thanks to everyone who has advised