The Nominal Ledger Year End Report shows a New Year ‘Credit’ figure against the ‘Accumulated Fund’ account, which does not include the new one-sided journal entry relating to the sum of all the P&L Account balances (which have just been cleared down to zero)

This one-sided entry is displayed as an entry at the very bottom of this report:-

Our customer has expressed concern that this is not clear to auditors and that the ‘New Year’ columns should also include the new one-sided entry in the totals against the Accumulated Profit/Loss or Retained Profit Account.

The balance of the Account following the Year End routine in this particular example is -659,294.81 (see below), so our customer believes the Year End report should display this amount in the ‘New Year’ columns.

Our customer has also advised that the wording of this bottom section currently displaying ‘Year End Accumulated Profit’ should actually be displayed as ‘Year End Accumulated Profit/Loss’.

Please note, the customer is using Sage 200 v2020 R2