The Nominal Ledger Year End Report shows a New Year ‘Credit’ figure against the ‘Accumulated Fund’ account, which does not include the new one-sided journal entry relating to the sum of all the P&L Account balances (which have just been cleared down to zero) Screenshot A This one-sided entry is displayed as an entry at the very bottom of this report:- Screenshot B Our customer has expressed concern that this is not clear to auditors and that the ‘New Year’ columns should also include the new one-sided entry in the totals against the Accumulated Profit/Loss or Retained Profit Account. The balance of the Account following the Year End routine in this particular example is -659,294.81 (see below), so our customer believes the Year End report should display this amount in the ‘New Year’ columns. See screenshot C Our customer has also advised that the wording of this bottom section currently displaying ‘Year End Accumulated Profit’ should actually be displayed as ‘Year End Accumulated Profit/Loss’. Please note, the customer is using Sage 200 v2020 R2
Eric Belshaw
