WazzaJ

When I run an Account Enquiry for my bank account Express Accounts shows the opening balance for F/Y 2013-4 instead of F/Y 2014-5. I have selected "This financial Year" and the dates show Start date 1/07/2014 and End date 30/06/2015. Can anyone explain what's going on?

Thanks for your response PYZ01. I'm looking at the Income Statement for the financial year from July 2011 to date so the figures should appear for operating income and expenses. In all other accounting systems, if there are balances in operating accounts then they show in the P&L. When a financial year is closed the balances are cleared to Equity accounts and the operating accounts are set at zero for the new year. When you say "enter the operating items" I guess you mean that I have to enter the balances as at July 1 2011, then enter every transaction for the year. That's a lot of work as I have two companies to sort out. I guess another way would be to enter the balances at July 2011, then a single journal entry for all the P&L items? What happens at year end? Does the system run an automatic year end (similar to MYOB) or do I have to clear the accounts manually?

Hi all. I am a new user of Express Accounts. I have set up my opening balances including figures for income and expenses. The balance sheet shows the correct figures including Current Year Earnings, but the Income (or P&L) statement has no figures, just "0" for everything. Any suggestions as to what is going on? Hope someone can help. I thought it may be the numbering system I used but having changed that I still get nothing. Does the system not recognise opening balances when calculating the P&L?

Hi all. I am a new user of Express Accounts. I have set up my opening balances including figures for income and expenses. The balance sheet shows the correct figures including Current Year Earnings, but the Income (or P&L) statement has no figures, just "0" for everything. Any suggestions as to what is going on? Hope someone can help.