Account Transactions (General Ledger)

faridahfaridah Member Posts: 38

Hi Team ,

Refer to the above I use waveapps to help Entrepreneurs to prepare their financial report . We use the reporting that is available to send it to the auditor for audit purpose .

When we run the report one of the issue was the Account Transactions which previously had transactions but no transactions in the current year the report does not carry the starting balance and the ending balance in the report .

When I cross check the balances in the Trial Balance and the Ending balance in the Accounts Transaction (General Ledger) it does not tie.

This was one of the queries from the auditor , appreciate the feedback from your team

Thank you
Faridah

Comments

  • BarsinBarsin Administrator Posts: 2,041 admin

    Hey there @faridah

    Would you mind providing a bit more information about this? In fact perhaps some screenshots of your previous years account transactions and the balance that does not carry over. Have you tried filtering the account by the year using your calendar drop down and selecting Jan 1st - Dec 31st?

    Any additional info you can provide would be greatly helpful in trying to figure out the issue with your account :smile:

    Thanks so much for your cooperation.

  • faridahfaridah Member Posts: 38

    this is the trial balance

    There is a balance amount in the trial balance
    When we download the Ledger, this amt does not appear because there was no transaction . but we need the balance to appear in the ledger opening balance and closing

    like below

    We send the ledger to the auditors , they mention why the Trial balance and the Ledger not tally (the reason was ledgers without transactions was not included in the ledger) - What we did was manual update in excel and forward back to the auditors

    Appreciate if the ledgers with transaction is included in the report

    Thank you

  • BarsinBarsin Administrator Posts: 2,041 admin

    Hey again @faridah
    The Trial Balance report provides a similar breakdown of the balances of your accounts with one key difference: Account Balances does not populate in relation to the date of your fiscal year-end, while Trial Balance does.
    The balances that you’ll see in the Account Balances page are determined by the date range that is set when generating the report, while the balances in Trial Balance are determined by the closing date of the report, and the start date of your fiscal year.

    I do believe this might be the issue you're facing in your account transactions report. Check out the fiscal year end under your Settings > Dates and Currency.

    Hope this helps.

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