I’m doing accounts for a small golf club and I’m not an accountant.
On the Balance Sheet the line ‘P&L Account’ shows a figure that is quite different from the ‘Profit Before Tax’ line on the P&L report.
I can’t think how that is possible or where to start looking.
Can anybody offer a suggestion?
Are all the previous accounting years properly closed?
The P&L report shows only the transactions from within the selected year, but the balance sheet “P&L account” will include all years up to the date you’ve selected for the balance sheet that have not had their year end journals created.
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That’s possible, I’ll check tomorrow, thanks
Yes! That was the problem. Now fixed - Thank you so much.
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