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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.

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