Year-end Trial Balance Report

by Megan
(Toronto, Ontario)

Our company year-end date is Nov 19th. I did not enter a Closing Date in the Accounting Preferences. However, in Company Information, I had to enter a first month in the fiscal year, so I entered November.

Now I am trying to run a Trial Balance for last fiscal year and it doesn't include expenses for the dates.

How can I get around this?

Megan, I'm assuming you are working in QuickBooks and that you are incorporated.

If you are a sole proprietor, check out this information about sole proprietor year-ends.

Double check your year-end date. I have never come across a year-end that ends in the middle of a month. I'm fairly certain your year-end is really October 31st or November 30th.

Depending on what you find out, you will need to change your first month in the fiscal year to December if your year-end is November 30th. If your year-end is October 31st, then you can keep your first month at November.

It is a good practice to also set your closing date after you have filed a government compliance report. This ensures you don't change information on reported periods.

I also take pdf copies of any summary and detailed reporting pertaining to the government information report filed as backup in the event I'm audited or I do accidentily change filed data. The audit trail let's me "fix it" back to how it should be ... that is over and above a physical data backup after every compliance report is filed ... just in case .... (you fill in the blank because we all know stuff happens!)

If you have any further questions because this is clear as mud to you, just post back using the link below.







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