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Evo-ERP and DBA Classic >> Accounting >> Re: GL - F gives faulty results?
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Message started by Lynn Pantic on 02/24/04 at 09:56:42

Title: Re: GL - F gives faulty results?
Post by Lynn Pantic on 02/24/04 at 09:56:42

Income Statement simply reports the balance in the accounts within the range specified. If you have an Expense account in the middle of the range of income accounts for your credits, then the Income Statement will be off. You need to have all the accounts within the range be the same type of accounts.

Sales Relief for credit memos needs to either post to Bad Debt in the Expense section or to an Income Account for Sales Adjustment (or whatever) in the Income section that is defined in AM-C as an income type account with normal Credit balance, then when it actually carries a debit balance it will show bracketed on the income statement and be subtracted from sales.

If you have the account incorrectly defined, change the type in AM-C, then use UT-K-D to rebuild it.

Title: Re: GL - F gives faulty results?
Post by Lynn Pantic on 02/24/04 at 11:22:09

I don't understand what you are describing. If you process a credit sales order which debits sales, the net balance in the Sales Account as seen in GL-A and on the income statement will include both the debits and credits.

If the ending balance per the trial balance in the sales account does not match the ending balance in the account as seen in GL-A then something else went wrong during posting. You can recalculate the GL-A balance based on the transactions in the trial balance usnig UT-K-D but in general, all transactions will post to the detail and subtotal files, you don't need to do anything special for sales returns.

Title: Re: GL - F gives faulty results?
Post by Lynn Pantic on 02/24/04 at 11:37:21

How does GL-A compare to the trial balance?

Title: Re: GL - F gives faulty results?
Post by Lynn Pantic on 02/24/04 at 12:16:35

No, trial balance is based on transaction detail in the BKGLTRAN file. GL-A and the financial statements are looking at the monthly subtotals in BKGLCOA file. I am asking what the GL-A ending balance is for your sales account compared to the Trial Balance ending balance for the same account.

Title: Re: GL - F gives faulty results?
Post by Yah mon on 02/24/04 at 12:19:45

The problem is the accountant and how he sees this. I've got my head so confused with all this that I can not see straight. The reports are correct, he does not see the closing entries as valid and sees erroneous data. Please remove this topic. Sorry.

Title: Re: GL - F gives faulty results?
Post by Yah mon on 02/24/04 at 12:32:19

P.S. A little accounting knowledge in the hands of the wrong person is a dangerous thing.