Why am I not getting any totals for current accounts on the balance sheet?
Article ID
ias-12214
Article Name
Why am I not getting any totals for current accounts on the balance sheet?
Created Date
11th December 2015
Problem
Why am I not getting any totals for current accounts on the balance sheet?
A message may appear:
Opening balance current year 0
does not agree to
closing balance last year ?
or
The balance sheet just wont balance and dashes will appear next to the current/capital accounts.
Resolution
For a sole trader or partnership the balances on capital/current accounts may not appear on the balance sheet for a few reasons:
Check the opening balances have been run in the current year
Check the involvement dates for the Proprietor or Partners.
Select Edit| Proprietor/Partners
Make sure the ‘Start’ and ‘End’ dates are relevant to the year the accounts are being produced for. If there is an incorrect date select ‘View’ and remove it.
