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Updated Balance sheet not being displayed for the closing date

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Posted on by Muhammad Anas Naeemi

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Hey everyone,

I want to ask that in accounting period, I closed a fiscal year (starting date: 01-Apr-2023 ending date: 31-Apr-2023) and post my entries in 'retained earnings' (Chart of Accounts) from General Journal. Now whenever I am checking the income statement report it should give an updated values for the month of April (starting date: 01-Apr-2023 ending date: 31-Apr-2023) and I am getting that. But when I am checking Balance statement report (starting date: 01-Apr-2023 ending date: 31-Apr-2023) it is not giving me the updated values but as soon as I am putting the ending date as 01-May-2023 it is giving me the updated values. So the thing is that why I am not getting updated values on the same closing but one date after it in Balance sheet. There is no problem with the income statement. Kindly guide.

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KasparsSemjonovs 3,962 Super User 2024 Season 2 on at

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RE: Updated Balance sheet not being displayed for the closing date

So all is fine then. That is how the standard functionality works.

If You want to change it, You have to ask Your partner for modifications.

Anyway - some reports might not allow to provide C31.03.2023 as period ending value, but You can create Account schedule and enter that period.
Govinda Kumar 2,203 Super User 2024 Season 1 on at

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RE: Updated Balance sheet not being displayed for the closing date

Hi Kaspars Semjonovs

Thanks for responding

I'm very sorry for the confusion, I mean to say that I'm not able to see the updated values for the month of march when I put 31/03/2023, if I change the ending date to one day after the closing like 01/14/2023 instead of 31/03/2023, then I can see the updated values.. transactions are posted with C31.03.2023

Regards
KasparsSemjonovs 3,962 Super User 2024 Season 2 on at

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RE: Updated Balance sheet not being displayed for the closing date

It seems You are facing totally different isuse. Initial inquiry was that user was seeing figures and wanted to see 0.00, but You are seeing 0.00.

Do You have any localization? With what date are the closing transactions posted? Are they posted with C31.03.2023 or just 31.03.2023.
Govinda Kumar 2,203 Super User 2024 Season 1 on at

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RE: Updated Balance sheet not being displayed for the closing date

I am also facing the same issue in my financial reporting system's balance sheet report, I am only seeing 0.00 when I enter 31/03/2023 as the ending date. Can anyone help me understand this too like why this is happening, and how I can view the updated values without entering 1/04/2023 as the ending date?
KasparsSemjonovs 3,962 Super User 2024 Season 2 on at

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RE: Updated Balance sheet not being displayed for the closing date

This is out of the Box functionality.

As this is mostly used for Financial Year closing, then when running reports for that financial year You still want to see original amounts. But in Your case You want to see 0.00.

I know in some specific countries Closing is done on monthly basis, but in those countries usually there is Localization and it includes a modified functionality on this. So might want to contact Your partner.
Muhammad Anas Naeemi 382 on at

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RE: Updated Balance sheet not being displayed for the closing date

So, in the balance sheet report, I have to write 01/05/2023 as ending date to view the update values? Because I am unable to view updated values when I'm entering 30/04/2023. Moreover is it an out-of-the-box functionality or an error or something?
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KasparsSemjonovs 3,962 Super User 2024 Season 2 on at

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RE: Updated Balance sheet not being displayed for the closing date

Close Income statement results are posted with a date that is between Last date of that month and 1st date of next month. In G/L entries You will see a date with letter C in from : C30.04.2023

You can try to provide in filter the dates 01.04.23..C30.04.23 - but some reports don't allow to enter Closing Date in filters.