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Trial Balance, Balance Sheet, and Profit and Loss Statement

Former Member
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Fellow Experts,

I am having a dilemma, as I cannot remember the correct settings to get my Trial Balance to match both my Balance Sheet and P&L for a given fiscal year.

I am trying to match my Trial Balance to Balance Sheet and P&L for fiscal year 2009 (01/01/2009 - 12/31/2009) So far, I have included:

All Accounts with balance of zero

Posting Dates 01/01/2009 - 12/31/2009 for both the Trial Balance and P&L

Posting Date to 12/31/2009 for the Balance Sheet.

The only other setting that I have is for an Annual report.

The odd thing is that with these settings, my Trial Balance will only match my P&L, not my Balance Sheet. The only way to get it to match the Balance Sheet is to select Opening Balance For Period (From Start of Company), but then it no longer matches the P&L.

Can someone help shed some light on this? Perhaps I am just having my Monday on Tuesday.

Thanks in advance,

Donald

Accepted Solutions (0)

Answers (2)

Answers (2)

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Im having the same issue with B1 9.0 when trying to match Trial balance to Balance sheet and P&L in closed periods (2015), depending on the options selected I managed to match two of them but not all.

When matching the numbers of 2016 (which is not a closed period and dont know if this affetcs..) the three of them match perfectly... 

Will keep working...

Former Member
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If you have completed year end close processes, you may need to play around with the inclusion of opening balances etc.?

The Trial Balance is intended to show movement in a period only - which is essentially the same as a Profit & loss, whereas the balance sheet includes all values from the start of time.

Former Member
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My understanding of a Trial Balance is that it represents both the Balance Sheet and P&L for a given period. With this understanding, I would expect that my trial balance for an open fiscal year would match both the Balance Sheet and P&L if I used the same criteria. Am I wrong?

Thanks again,

Donald

Former Member
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Donald,

Your assumption may not be true. Balance sheet and P & L are two statements with totally different focus. The first one is just a picture of your financial status as of a specific time. Only the 2nd one is a report for a given period. To match them, you have to be very careful.

Thanks,

Gordon

Former Member
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I agree, but by definition, the Trial Balance is both the Balance Sheet and P&L. In SAP Business One, P&L and Balance Sheet don't tie out from a single Trial Balance, but in other systems, they do. This is really the first time I have encountered this question about tying out to one report. I wanted to make sure it wasn't something that I was missing in the parameters.

Thanks to all who answered.

Donald

Former Member
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Hi. I'm new at SAP and could really use some advice as to how to print a trial balance (which Donald is correct....it should reflect both the P & L as well as the BS).

I looked throughout the Financial Accounting function and found the BS and P & L but NOT the trial balance. Does SAP call the trial balance something different?

Thanks for your help.

Lin

Former Member
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Donald is correct about how a trial balance should work.  The worthless report that SAP B1 calls a trial balance is indeed not a trial balance at all.  A trial balance is intended to be a short version of a general ledger and should have the same balances as the corresponding G/L.  And since all financial statements are based on the G/L, the trial balance should tie to all financial statements.  You can't undo the entire history of accounting just because SAP decided not to provide a true trial balance.  This report is worthless.

Former Member
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I don't believe SAP B1 provides a real trial balance.  They have a hacked report that they call a TB but it isn't one.

Former Member
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It is not an assumption, it is accounting. All financial statements should tie to the trial balance because the TB should tie to the general ledger and the general ledger is the source of all financial statements.