Difference between revisions of "Why do I Have a Figure in "Profit this Period" on my Balance Sheet?"
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== See also == | == See also == | ||
| − | *[[What should I consider at month end?]] | + | * [[What should I consider at month end?]] |
| − | *[[How to process a month end]] | + | * [[How to process a month end]] |
| − | *[[Vehicle Integration to Nominal Ledger]] | + | * [[Vehicle Integration to Nominal Ledger]] |
| − | *[[Stock Integration to the Nominal Ledger]] | + | * [[Stock Integration to the Nominal Ledger]] |
| − | *[[Reconciling your bank account]] | + | * [[Reconciling your bank account]] |
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| + | {{KB_Tags|Figure, Profit this Period, Balance Sheet, Profit, Period, Balance, Sheet}} | ||
| + | {{KB_NL}} {{ZN_Admin}} {{ZN_Accounts}} | ||
Revision as of 14:47, 21 October 2013
Summary
This article will explain why there is a figure showing in the " Balance Sheet" for 'Profit This Period' and how to clear the amount showing.
More Information
The figure for 'Profit This Period' represents the value of transactions that have not been processed by the " Audit Trail & Cleardown" to the Profit & Loss. When the Profit and Loss part of the month end was was done, you did not run the " Audit Trail & Clear Down". We suggest that you do not run the " Audit Trail & Clear Down" on a monthly basis if you want to be able to produce the standard " Trial Balance" for a previous period. If you do so, cumulative figures held by the system are updated and the " Trial Balance" uses these figures when it is run, hence you cannot go back should you wish to do so.
To clear down the amount showing in the 'Profit this Period', you will need to run the " Profit & Loss Audit Trail and Clear Down" for a range of dates.
Go to " Nominal Ledger Profit and Loss".
- Click on " Change Report Range".
- On "Start Date :" enter the 'date' for the start of the period in question. Use the start of the current financial year if you are not sure what to put here.
- On "End Date :" enter the 'date' for the end of the period in question. Use the end of the current financial period if you are not sure what to put here.
- Press <Esc>.
- Click on " Audit Trail & Clear Down".
This will print out an audit of the Profit & Loss for the period you have chosen and once the audit has been printed, click [Accept]. If you check the " Balance Sheet" again, the 'Profit This Period' should not appear, and the 'Profit to Date' should now include the value of the 'Profit This Period'.
 | Remember: Running the " Audit Trail & Clear Down" for any period will remove the figure in 'Profit This Period', but it will also mean that you will not be able to produce a " Trial Balance" for a previous period in the current financial year. Once processed it can not be reversed! |
See also
- What should I consider at month end?
- How to process a month end
- Vehicle Integration to Nominal Ledger
- Stock Integration to the Nominal Ledger
- Reconciling your bank account
