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
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.
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.
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?
CETEC ERP Customer Support
@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.
Susan/CETEC ERP Customer Support
This topic was automatically closed 90 days after the last reply. New replies are no longer allowed.