Forum Discussion

SUWA's avatar
SUWA
Experienced Cover User
4 years ago
Solved

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

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 fi...
  • Mike_James's avatar
    Mike_James
    4 years ago

    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. 

Mike_James's avatar
Mike_James
Ultimate Cover User
4 years ago

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. 

  • SUWA's avatar
    SUWA
    Experienced Cover User
    4 years ago

    Thanks for the explanation Mike.

Looking for something else?

Search the Community Forum for answers or find your topic and get the conversation started!

Community home

Dig into MYOB Academy for free courses, learning paths and live events to help build your business with MYOB.

 

Related content