Year End Tool: Profit Loss figure not the same on balance sheet

I have inputted 6 months of figures into my quickfile account but when I prepare a profit and loss report the figure here is different from the one created by the balance sheet. In my chart of nominal accounts everything balances.
I’m at a loss to explain it. Any ideas?

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If there are transactions posted in the previous financial year, these will be included on the Balance Sheet under ‘Capital and Reserves’, if you go to the P&L Report and select ‘All Time’ for the period, you will now see that the figures match the Balance Sheet:

Once the previous financial year is closed off, the P&L figure for that year will be moved to ‘3101 - Retained Profit & Undistributed Reserves’, you can run the year end process for previous financial year using the ‘Simplified Year-End Tool’, which will assist to automate the process.

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Many thanks Joe, Sorted now :slight_smile:

Excellent, glad we could help.