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.