Check the debtor and creditor summary account balance

It can happen that the balance of the outstanding items does not match the balance of the Accounts Receivable (or Accounts Payable) summary account in the Trial balance or the Extended trial balance.

Example:

Compare the balance from the Outstanding items report for debtors with the Trial balance or the Extended trial balance:

  • Go to: Financial / Output / Report.
  • Open the report:: Outstanding items debtors.
  • Enter 31-12-2014 in Reference date.

    Compare the balance from this report with the Trial balance or the Extended trial balance:

  • Go to:Financial / Ledger / Overview / Trial balance or Financial / Ledger / Overview / Extended trial balance
  • Enter 2014 as the Financial year and 1 t/m 12 as the Period.

    Here we have a balance for the debtors summary account that does not match the balance from the outstanding items list.

    The difference in balance can be explained as follows: The peildatum used by Profit in the list of outstanding items is based on the factuurdatum, while the Trial balance and the Extended trial balance are shown based on the boekingsdatum. The Ageing analysis is also compiled on the basis of the factuurdatum.

To check the balance of the Debtors and Creditors summary account in the Trial balance or the Extended trial balance, you must use the Check list debtors (Profit) and Check list creditors (Profit) reports. The reference date of these reports is based on the boekingsdatum. The totals on these reports will match the balance of the summary account in the Trial balance or the Extended trial balance.

To view the debtors/creditors checklist:

  1. Go to: Financial / Output / Report.
  2. Open the report:
    • Check list debtors (Profit)
    • Check list creditors (Profit)
  3. Enter 31-12-2014 in Reference date.
  4. Click on: Finish.

If there is still a difference, it can be due to the Cumulative entries table. Recalculating this table using the Financial recalculation action can also ensure that the balances are once again the same. For this, no other users may be active in Profit Financial. The environment needs to be converted after this action. With this, Profit may retrieve information once more from in the database. With this, you must be able to discover the difference and/or be able to resolve it.

See also

Directly to

  1. Year-end transition Financial
  2. Automatically extend the period table years
  3. Block a fixed assets financial year
  4. Recalculate cumulatives
  5. Set the opening balances of the VAT accounts for the new year to zero
  6. Check the VAT declaration and VAT account balances
  7. Check the debtor and creditor summary account balances in the extended column balance or trial balance
  8. Check the voucher and invoice counters