Why am I Getting a Figure in the Profit This Period on My Balance Sheet

Summary

This article explains why you may get a "Profit This Period" figure on the Balance Sheet and what to do about it.

More Information

This is caused by Profit & Loss transactions that have not been transferred to the Profit to Date centre, 'Z995'. To keep the Balance Sheet in balance, these transactions are totalled and shown on the Balance Sheet as "Profit this Period".

To transfer the transactions to the Profit to Date centre :

Go to " Nominal Ledger Profit & Loss Change Report Range".

• Change the start date to be the first day of the financial year that you are working in.
• Change the end date to be the last day of the current financial period that you are trying to close.
• Press <Esc> to exit this option.
• Choose " Audit Trail & Cleardown" and press "Accept" when complete.
• If you run the " Balance Sheet" again, you will find that the Profit This Period has disappeared, and its value transferred into Profit to Date.

See also

• How to process a month end
• What should I consider at month end?
• How do I process a year end?
• Clearing any unprocessed transactions at a year end

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Keywords AND Misspellings

month, end, balance, sheet, profit, loss, period, this