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The Trial Balance displays the end of period balances, in particular:

• For the Balance Sheet accounts, it displays the total balances.

• For the Profit and Loss accounts, it displays the balances since the start of the financial year.

• For the Retailed Earnings account, it excludes Profit and Loss movements during the financial year.

To ensure the closing balances in the Trial Balance are correct, you need to set your financial year end date. When you and other users open your Trial Balance, if the financial year end date is not set, you will see a warning message at the bottom of the screen. Users with permission to manage financial statements will also see a button you can click to set the date.

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When you set the date, the warning message no longer displays. You can then edit the date or add more dates via the Settings button, as outlined below.

Set your financial year end date

1. Click the Financial Year… button in the warning message.

2. In the Financial Year window, click the Our fiscal/financial year ends Open button and select the required year end date, for example June 30. If your year end date does not display in the list, select the Other option, then specify the date.

You can add as many year end dates as you need. Click the Add button to add another, then specify the date range and select the year end date (as above).

Edit your financial year end date

1. Click the Settings button > Financial Year in the top right corner.

2. In the Financial Year window, edit your financial year end date and/or add other dates as required.