Incorrect trial balance reports
Hi,
Reposting here since I did not receive a satisfactory response from Zoho support.
Our company follows the financial year Apr-Mar. However, for group reporting purposes we use the Jan-Dec year. When I tried extracting the trial balance for Jan-Apr 2021 (using the custom period option), I noticed that only transactions between the Jan-Apr were shown with no impact of opening balance for balance sheet items. This gives a very wrong picture of the books of accounts. The whole point of extracting a trial balance is to have the impact of opening balances adjusted in the balances that are shown. If your trial balance for a range of dates only shows the net transactions during the period, it is not a trial balance but just a statement of transactions during the period. I strongly suggest that this feature be rectified immediately.
Since I was unable to get the desired result, I extracted a report with opening balances. Here I noticed that even profit & loss items show an opening balance. I don't know how profit & loss items can have an opening balance. The profit & loss impact has to be adjusted in the profit & loss balance under reserves & surplus in the balance sheet. Request that the necessary changes be made to the trial balance report so that it show accurate results.
Regards,
Yagnesh
Deliver unforgettable customer experiences
Deliver unforgettable customer experiences
New to Zoho Marketing Plus?
Everything you need to run your marketing
New to Zoho Marketing Plus?
Everything you need to run your marketing
Zoho Desk Resources
-
Desk Community Learning Series
-
-
-
-
-
-
-
-
-
Sticky Posts
Zoho Books will discontinue support for older browser versions soon
Hello users, Starting from May 15, 2024, Zoho Books will no longer support the following browser versions: Browsers Version Restrictions Firefox Browser Versions older than 100 Google Chrome Versions older than 100 Microsoft Edge Versions older than 100
Best practices for financial year-end closing with Zoho Books | Free Webinar
Ready to close your year-end finances like a pro? Join our free webinar and learn how Zoho Books helps you maintain clean accounts, carry forward balances, and get geared up for the new financial year. Register now - https://zoho.to/9f1
Master the art of budgeting with Zoho Books | Free Webinar | 4th & 5th March 2024
We're thrilled to launch the Zoho Books monthly webinar series! Don't wait to conquer your finances in 2024! Budgeting can be easy with Zoho Books. Join our FREE webinar and learn how to set and track goals, master budgeting, and unlock insights to make
Zoho Finance Workshop 2023 is coming to the USA. Meet the experts, get exclusive training on Zoho Finance apps and more.
Hello all, We'd like to invite you to our biggest Zoho Finance workshop in the United States. After a brief break, we are excited to be back. This year, we're bringing together our customers and community members for two days of curated hands-on sessions,
Zoho TeamInbox Resources
Zoho DataPrep Resources
Zoho CRM Plus Resources
Zoho Books Resources
Zoho Subscriptions Resources
Zoho Projects Resources
Zoho Sprints Resources
Qntrl Resources
Zoho Creator Resources
Zoho WorkDrive Resources
Zoho Campaigns Resources
Zoho CRM Resources
Zoho Show Resources
Writer Get Started. Write Away!
Writer is a powerful online word processor, designed for collaborative work.