[Question] Trial Balance Profit not agreeing to Balance Sheet

[razorc]

Hi Guys

I am trying to help my mother with a problem she is having with her pastel books.

Her profit per the trial balance is showing a certain amount and then on the Balance Sheet the "Net Profit/Loss this year" is different.

It is very strange....So the Nett Profit per the TB does not agree to the Profit on the Balance Sheet.

Surely, these 2 should match. I have no idea why there is a difference.

Do you guys have anyway that I could troubleshoot this problem??

I cannot understand why the 2 profits for the same period are different.

[Mike C]

Hi razorc - the first thing I would do would be to run a data integrity test to check that there is no problem there.

If that is ok - then just double check that you are looking at the same year. To look at the previous year, you untick a box ... and it is very easy to not notice it when running two different reports. A small thing like that can easily cause confusion.

[razorc]

Hi razorc - the first thing I would do would be to run a data integrity test to check that there is no problem there.

If that is ok - then just double check that you are looking at the same year. To look at the previous year, you untick a box ... and it is very easy to not notice it when running two different reports. A small thing like that can easily cause confusion.

Thanks Mike. It is definitely the same periods we are looking at. And we have even looked at it every month for the current period and there is a variable difference every month.

It is so strange that our trial balance balances but the balance sheet does not.

I will give the data integrity test a bash and see what happens.

[CLIVE-TRIANGLE]

Presumably the Trial Balance balances?

Presumably the Balance Sheet balances?

If the profit does not agree, but the two statements are in balance, then there must be a compensating error. So just agree the rest of the balances in the balance balance sheet with the trial balance.

Edit:
If as you say, the Balance Sheet does not balance, then hopefully your data integrity check will fix it.