I am trying to run a QB trial balance between a given range of dates, my financial year. I am not an accountant.
My QB financial year is set from April to March, but my actual year is 06/04 to 05/04
On some but not all P&L accounts it is carrying forward a balance. Why?
The only thing I can see is that the figures it is bringing forward were entered after the 06/04, although they were dated pre 06/04. I am confident this is not the problem.
Any ideas,
Thanks
Related resources
Replies (4)
Please login or register to join the discussion.
QB financial year is in whole months only
Quickbooks defines its FY in whole months only. I suspect there are transactions dated between 1st and 5th April, and QB would regard these as b/fwd on its Trial Balance for a part month.
the above is correct
QB deals only with whole months so there will be an entry as mentioned
there is a concession that you can use 31/03 year end as a 05/04 year end so dont waste time on this
Thanks
Thank you for your replies. I continued to work on the problem after the post and realised that the problem was to do with whole months.