Statement of Cash Flows - Opening and closing balances

Accounting
1

Hi

The Opening balance 01.01.20 does not agree with my closing balance as at 31.12.19 - any ideas why please?

Thanks
Lyndsey

2

Well some things won’t match. The year end journal moves some items from one nominal to another. What exactly doesn’t match that you would expect it to?

3

Hi Paul

On the Statement of Cash Flows, under the heading Cash and Cash Equivalents, I’d expect the ‘Beginning of period’ figure to be the same as the previous year’s ‘End of period’ figure.

Thanks :slight_smile:

4

Sadly I can’t check mine because I get an error regarding missing nominals. It is a beta extension so its likely to be buggy but maybe @QFMathew can assist.

5

Hi @Matt

This is due to the nominated bank accounts at the beginning of the period being considered as Cash or Cash Equivalent (C or CE), so it just takes the balance of all those accounts.

The report then looks at all cash based movements across those accounts from the report opening date to the close date. So when you run the same report for the next consecutive period the C or CE open balances will be reset to the bank balances on the account.

I hope that makes sense?