Brought forward balances include previous years balances

Posted By Vanshades ltd 2 months ago

Hi,

I have run the year end for 2023, but the balance sheet for January is pulling through transactions from as far back as 2017, so the year to date figures are incorrect. Have I done something wrong when running the year end or have previous year ends not been run (I am new to the company) and how do I correct this? Thanks

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Vanshades ltd 2 months ago +1

All sorted now

0 Andy Rickeard 2 months ago

Hi,

Thanks for using Community Hub.

There are a few possible causes for this, I'd recommend working through the following article to try and get to the bottom of it. How to correct brought forward balances after running the Year end >

If that helps, please click Verify Answer.

Regards,

Andy
Sage UKI
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0 Vanshades ltd 2 months ago in reply to Andy Rickeard

The P&L isn't affected, it is only the Balance Sheet. For example, Creditors has pulled through £80k worth of transactions from previous years, as far back as 2017
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0 Vanshades ltd 2 months ago

All sorted now
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0 Andy Rickeard 2 months ago in reply to Vanshades ltd

Ah my apologies. The balance sheet is always cumulative and doesn't clear down at year end like the Profit and Loss. If you run the balance sheet for a period, say period 1,2 and 3 then the period column will show the results for that period but the year to date will have those period figures plus anything brought forward.

I hope that makes sense and helps to explain what you're seeing.

Andy
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Brought forward balances include previous years balances

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