Is the net income on the balance sheet supposed to be the same amount as the net income on the profit and loss report.Because they are different amounts and I don't see where I did anything wrong, and maybe they are supposed to be different amounts.
I have picked up a new client with the same problem going back several years - yes, these should be the same. At this point,I am trying to discover the error point by systematically testing dates forward from the last known correct balance.
The most frequent cause of this is that one report is on the accrual basis and the other is on the cash basis. So insure the reports have the same basis.
Run both reports from the Reports Menu, not from the memorized report list or from the icon bar.
If they two NI amounts are still different, set both reports to Dates = All. If they are now the same, then the issue is with the dates of the reports. If the NI amounts are still different, then we may have some data damage.
I am having that same problem. NI on PNL does not match NI on Balance Sheet when the PNL is ran monthly. However it does match if ran YTD. It is only unbalanced for the last two months. Does anyone know how to correct this issue???? PLEASE HELP!!!
There are probably some transactions dated in the future. Run the P&L by month, going forward, to find these.
