Not match between trial balance and profit and loss

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1

Hello

I have checked the trial balance and profit and loss statement on Dec 31 2022.

Currently two financial statement numbers don’t match with each other.

On Dec 31 2022

Trial balance

Acct# 5020 $1,365,729.74

Acct# 5035 $277.11

Profit and loss

Acct# 5020 $1,365,621.76

Acct# 5035 $385.09

Both expense account amounts must be the same.

Which one is correct and why happens?

If I do it with auto retaining earning entry right now, the trial balance will be messy.

I am looking forward to hearing from you soon.

2

Hi @diyoun,

Thank you for letting us know about this discrepancy. I am following up on this with my accounting team, and will circle back with my answers.

3

hello @diyoun,
We can see that there is a manual ledger entry posted on 2022-12-30 that is producing the delta of $107.98 in GL account balances 502000 and 503500 when comparing the P&L to the TB. Would you like to consider opting in for some consulting/directing help as needed to resolve the issue?

Best,
CETEC ERP Customer Support

4

@diyoun…we were able to further determine that likely the manual ledger entry named “2022 YE-ADJ 1” should have a post on date of 2021-12-31 rather than 2022 date, because where the beginning of the year balance for acct 502000 should be $0.00, instead it’s showing $107.98…the Trial Balance acct 502000 balance of $1,365,729.74 is correct @2022-12-31. So we think if you move the manual ledger entry post date to 2021-12-31 your 502000 and 503500 balances will again tie between P&L and TB.
Let us know if you need anything else.
Best,
Susan/CETEC ERP Customer Support

5

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