Forum Discussion

Codez's avatar
Codez
Experienced User
5 years ago

Trial Balance question

Hi,   Our Trial Balance report for April shows the Retained Earnings figure has decreased by $32.50 since the March Trial Balance. I am not able to figure out where the variance is coming from.   ...
  • Neil_M's avatar
    Neil_M
    5 years ago

    Hi Codez 

     

    Given that the financial year was closed recently (I assume), when the financial year was closed the current year earnings, as well as the income and expenses would have been added to the Retained Earnings figures. This happens as part of the closing a year process.

     

    Generally speaking if you were after a breakdown of transactions that had gone against a particular account you would use the General Ledger Detail report, however this report cannot be run across financial years.

Neil_M's avatar
Neil_M
Former Staff
5 years ago

Hi Codez 

 

Given that the financial year was closed recently (I assume), when the financial year was closed the current year earnings, as well as the income and expenses would have been added to the Retained Earnings figures. This happens as part of the closing a year process.

 

Generally speaking if you were after a breakdown of transactions that had gone against a particular account you would use the General Ledger Detail report, however this report cannot be run across financial years.

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