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After running opening balances why does the trial balance not balance?

Article ID
ias-12170
Article Name
After running opening balances why does the trial balance not balance?
Created Date
24th November 2015
Product
IRIS Accounts Production
Problem
After running opening balances why does the trial balance not balance?
Resolution
This is usually because postings have been made to acccounts 568-575 on the Enhanced chart but not to closing stock on the profit and loss account, in the previous period. The balance sheet stock accounts are not automatically brought forward when the opening balance routine is run. If the trial balance is out of balance by the total of stocks, a posting or postings will need to be made to the required account number(s) for opening stock on the profit and loss account (for the current period). This should then make it balance. If you need any further assistance please email IRIS Support

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