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Problem With Profit And Loss Statement (and trial balance... and...)

Good day. I’m having a problem with profit reporting.

Here is some preliminary information for you:

-Using ERPNext: v12.21.0 (version-12) Frappe Framework: v12.18.0 (version-12)
-Our Fiscal years run from May 1st to April 30th. We migrated from Microsoft Dynamics Nav on Feb 1 of this year - so mid - fiscal year
-We have not closed the 20/21 fiscal year yet

Ok here is the problem:

When I pull a profit and loss statement for the 20/21 fiscal year and look at several accounts, the totals on the G/L do not match what the report says.

For example - if you look here at our 7210 Depreciation account it says $25060.85

PandLerror01

If I click into the account’s ledger you will see that $25060.85 is listed there as the first entry.

Below it though are all the depreciation entries made from Feb 1st onward. None of these are being calculated into the amount that should be showing on the P&L report. If you scroll down to the bottom it even says the balance is $29964.33 which is correct - there have been $4903.48 worth of depreciation entries made.

PandLerror03

So I’m wondering where the disconnect is. Is this something to do with the fact we are currently long past our year end? I noticed on the chart of accounts, after the year end it lists the revenue and expense accounts as back to zero. I assume it does this automatically even though we have done nothing yet to close the year end.

  • Edit - At the moment - this seems to be limited to that depreciation account, I have not checked all the other accounts. Depreciation entries were made manually from the asset page.

Any help would be much appreciated.

Thanks,

Mark

What is the heading of your G/L report? I mean, you did not show the whole screen.

Here is the G&L Heading:

Thanks,

Mark

Yes. This is correct. The difference between Revenue and Expense becomes the Income of the Year, in the Balance Sheet for the Year.

Balance Sheet accounts do not reset to zero across fiscal years.
Income Statement accounts reset to zero at the beginning of the year

Sorry, I meant the heading for generation the Income Statement

Thanks. here it is:

Try placing a check mark on the Accumulated Values checkbox

I figured this out. I needed to select a Finance book to include transactions that are associated with a finance book.

Thanks for help.

Mark

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