Used since October last year.
Now trying to produce reports for accountant - hopeless, I’m afraid.
P&L shows nothing (although there are sales and purchases recorded).
Balance sheet - is so minimalist - to be useless - it just shows a single total - no detail whatsoever.
Chart of accounts - shows noting at all.
Am i missing something?
Thanks,
Mike
First things first, double check the date range you are viewing it for. May sound simple, but you’d be surprised how often that crops up
Balance sheet should show more than just a total, again check the date there too
Hi,
Yep, done all that - still nothing.
Reports should show detail - balance sheet just a simple total. P&L - nothing at all.
Mike
Does your balance sheet look anything like this (taken from my test account, so please excuse any odd nominal accounts or terrible looking amounts!):
And COA like this?
Nope.
Balance sheet just shows a total - no detail.
No figures in the COA at all.
P&L totally empty.
Cheers,
Mike
Are you sure you’re logged into the right account? I’ve heard some users accidentally registering two accounts in the past.
What accounting period (date from and to) are you querying?
EDIT:
Based on your IP address I can see two accounts accessed today. One has only 2 sales invoices and 0 purchases. The other has 8 sales invoices and 22 purchases.
It’s the second one - 8 invoices / 22 purchases
Mine is the same as Mike’s for year up to April 5th 2015. I also started using quickfile in October 2014.
Nothing in the chart of accounts apart from the assets and liabilities section + the capital and reserves section.
No entries at all for sales, purchases etc etc.
Yet when I run the separate profit and loss report for that year, all is present and correct? I don’t understand.
Also my balance sheet for that year is the opposite of Parker’s? Current Account, Paypal etc are showing as assets rather than the liabilities that they do on Parker’s test account. The profit and loss as “0”, and there is an entry for “retained profit & undistributed reserves” on the balance sheet with a credit figure which matches what the profit was.
The retained profit figure has carried forward onto this years balance sheet.
I actually thought this must be how it is supposed to look after running the YE Tool.
@Paulwk1972 if you run the year-end tool it will journal out the full P&L figures and move it onto the balance sheet under retained profits.
If your PayPal account is showing as an asset it means it has a positive balance up to that date. I guess in the example @Parker1090 provided, his account is in the red.
Where is the year end tool?
@Michael_Wright I was replying to @Paulwk1972.
In your case all your sales are logged between August and September 2014. Yet your default report dates are set as 06/04/2015 to 05/04/2016.
All you need to do is change the date range to pickup the activity in 2014… maybe set the start date to 01/01/2014. Or click the “Preset Date Ranges” button and select the 2014/2015 year.
Ahhh right, I’ve got it now Glenn.
So actually, my balance sheet is showing correctly?
@Paulwk1972 I didn’t have a chance to look at your balance sheet but what it should have done is take all the sales minus all the expenses and posted that to “retained earnings”. If you ran the year-end tool, which is nothing more than a simple journal this is what should have happened.
Yes that seems to be what happened after I ran the YE tool.
Does it also take all of the sales and expenses from the COA because they are all blank for that year?
Whereas when I check the COA for this year, all of the sales + expenses are on it.
Yes it would, the CoA is really just the P&L codes (4000-9999) and BS codes (1-3999) together.
Oh that’s good, I thought I’d broke it.
I think I understand it now.
For example if I look at the current account on the COA it does not show the actual figure in my account right now, but rather the difference between what is in now, and what was recorded at last year end which will be either a plus or minus (credit or debit).
CoA shows the balance of transactions over a period of time (defined at the top). If you set the date range to cover all accounting activity it should be the same as your current bank balance.
Although to confuse matters a little further… credits and debits are revered on bank accounts. So in the CoA a bank account showing a credit is actually overdrawn. Another double entry bookkeeping quirk.
