Year-end Trial Balance Report

by Megan
(Toronto, Ontario)

Accounting Software Frustrations

Accounting Software Frustrations

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?

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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.

P.S. I would like to remind you there is a difference between information and advice. The general information provided in this post or on my site should not be construed as advice. You should not act or rely on this information without engaging professional advice specific to your situation prior to using this site content for any reason whatsoever.

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Jan 31, 2012
Year-end Trial Balance Report
by: Anonymous

The year-end date is in the middle of the month and it does cause problems, unfortunately that cannot be changed.

Thank you for your help.

Jan 03, 2016
Apply for a Fiscal Year-end Change
by: Lake

You can apply to CRA for a change to the year-end ... the date being your choice. I'd suggest you apply and choose any period before your current year but make the date at the end of the month. If you current year-end is November 19th, choose October 31 for your year-end.

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