closing -opening not matching eb2 8.6d

M

Mokash

Member
Dear All,

The closing balacne in the trail balance of march for retained profit account is 1000cr. ----->1
The opening balacne in the trail balance of April for retained profit account is 1300cr. ----->2
The total of all profit and loss account for march is 100. hence the difference between point 1 and point 2 should be 100.
But in our case it is coming wrong . There is a difference of 200 more.
We have done Recalculate acd_det Totals, but still it is showing same values.
( Note:The values shown above are not real. It is taken to explain the case.)

Can anysome tell me why such problem is coming and what is the solution for it...Kindly guide me on this...waiting for the reply....
 
Do you see a balance at the end of TB ? If yes then You have not done year end close to trnfr the bal to P/L. Try it in a test copy.
 
Dear Sir,

As the balance in profit retain account is not coming correct , we have not yet done year end process. I have checked trial balance report for the entire year, but still showing the same value. As per my understanding, reconcilation process is required. Sir, what would you suggest.

Thanks for your reply
 
Sir thanks for your reply,


I have doing this in test environment only. All the transaction for that period are posted. As per my knowledge, before doing year end close , we have to check manually where Trial balance of April is showing correct opening balance for profit retain account. we are closing last to last financial year. I may be wrong in that concept...kindly suggest sir....take care....
 
Do the close & then you will understand.Lot of companies never do y/e close in MFG/PRO so its how your company work with MFG. If after close if there is discrepancy then we will fix that..
 
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