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Finance | Project Operations, Human Resources, ...
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Beginning Balances

Posted on 11 Aug 2022 12:01:37 by 30

I am going through the year end/audit process and went to pull a TB for July. the beginning balances on the TB are all 0. I closed out June so what else do I need to do?

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  • Richard Wheeler Profile Picture
    Richard Wheeler 75,730 on 11 Aug 2022 at 14:44:04
    RE: Beginning Balances

    I would check with your auditors. They tend to have odd requirements.

  • VxnStrm Profile Picture
    VxnStrm 30 on 11 Aug 2022 at 13:50:45
    RE: Beginning Balances

    I think I found it. I have not closed the fiscal year. I can do that even though the audit is not complete right? (silly I know but I am coming from QuickBooks) All the accounts are showing zero.

  • Richard Wheeler Profile Picture
    Richard Wheeler 75,730 on 11 Aug 2022 at 13:07:50
    RE: Beginning Balances

    Have you closed the previous fiscal year? Are these B/S or P/L accounts?

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