Do you have Adjustments after Year End Closing?

After Year End Closing (YEC) has been done,

then you generate the P&L and tick 'include Current Year End closing' the value should be zero.

If you made audit adjustments, then you may have values that were not included in the YEC.

For example,

FY 2018.

Year end closing has been done.

Auditor give you some entries to add.

Now when you generate the P&L and tick include current year end closing

the report will generate with values.

Note. you can generate the P&L with the above options to quickly see if you have entries that were not included in the year end closing.

To resolve is you can run the YEC module again.

this will post your adjustments into the retain earnings account.

• Related Articles

• How to list Year End Closings?

  The Year End Closing  (YEC) module will generate GL entries. you can view these entries using the GL module. Assumption. I have only 1 retained earnings account  In GL module.  Set date range to Balance. Set account to retained earnings account. Set ...

• How to do Year End Closing?

  Preparation The main purpose of Year End Closing process is to move the Profit/Loss amount incurred over the Financial Year (stored in Expense, Cost & Income accounts) to the Retained Earnings account. Ensure that all previous Financial Periods have ...

• Accounting Year End Closing Training Guide

  Training PDF can be downloaded from 'Attachment' section below.

• Why is Current Profit/Loss at Balance Sheet different from Profit/Loss report

  Commonly when there is a difference in the P&L and BS this usually indicates that Year end closing was not done for a period. (note this may apply to multiple periods) Adjustments were made after year end closing was done. ( note this also can apply ...

• Year End Closing Webm

  ype </div>