Trial balance YTD figures include last years amounts for balance sheet accounts

SUWA

Hi 

 

I am running a Trial Balance for July 2021, which is the first month of our new financial year.  I expected that all the debit and credit figures would be equal to the YTD debit and credit figures.

 

However it seems that this is true for the income, cost of sales and expense accounts, but not for the asset and liability accounts (as per examples in the extract below)

 

 

Am I misunderstanding what I should see in this report, or is this an error?

 

I am running AccountRight Plus AU 2021.4.1 (Build 2021.4.24.4638).  The FY21 financial year has not been closed off yet.

 

Thanks

Ray

Mike_James

Hi @SUWA , balance sheet accounts will have an opening balance at the start of the year or the period, which is why the YTD figures will differ. Have a look at the general ledger summmary report, which shows the opening balance and the movements separately.