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S
sinead.r
June 24, 2019
Question

HiJust wondering why teh Trial Balance does not match the P&L and Balance Sheet? The unrealised FX gain/loss and corresponding entries are missing?

  • June 24, 2019
  • 5 replies
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5 replies

T
TaliaI
June 24, 2019

Hello sinead.r,

 

Is there anything specific on the reports that doesn't match, or is it the overall balance?

 

Thanks,

 

Talia

T
TaliaI
June 24, 2019

Can I also confirm what month you have set up as the start of your financial year within your account & settings, and which date range you are running your trial balance for?

 

Thanks,

 

Talia

J
James UK
October 29, 2020

Hi, Was there any resolution on this question? I have the same  issue.

A
Ashleigh1
October 29, 2020

Hello James UK, 

 

Thanks for posting on this thread, 

 

Can you check these reports (trial balance, accounts payable/receivable, balance sheet, etc) nothing is matching as it should 

 

-all home currency, or foreign

-check the financial year

-check accounting method accrual or cash

-date range

-filters 

 

can you check you have them set the same for all reports 

J
James UK
October 29, 2020

Yes all the reports appear as I would expect them, in that they reflect the unrealised exchange difference. However the actual books, by which I mean the  general ledger (plus summary which is the trial balance) plus the aged creditors and debtors (which are subsets of the GL) do not reflect the unrealised exchanged differences that arose on valuation.

 

So my "reports" are different from my "books", and it is my books that are wrong.

 

To give the simplest example, I owe ZERO USD, however in my general ledger (home currency GBP), the general ledger shows that I owe £19.49. Whereas my balance sheet report shows correctly £ 0.00, as it reflects the revaluation.

If I post a journal to reflect this, then my books will be correct but my reports will be wrong!

 

There must be a way to resolve this. 

 

 

 

 

G
glassr
December 20, 2022

make sure reports are run on the same basis cash vs accrual.  

i ended up here looking for answer to why my (cash) basis balance sheet wasn't showing all transactions in register balances and discovered the differences when accidentally ran a balance sheet on accrual basis.

N
nancy-barber-etr
May 20, 2024

Hi
I've come across this thread and am having similar issues. I don't follow why the unrealised FX gain/loss doesn't show up on trial balance when it does on the P&L and Balance Sheet reports. I understand it is not yet realised but when we report our statutory accounts, we need to include this element as otherwise our foreign debtors/creditors are misstated and our P&L doesn't report any of the FX impact. It seems odd that the balance sheet & P&L reports don't reconcile to the TB report?
Is there a way to bring up the unrealised gain/loss account into the TB? This is also causing issues in b/f P&L reserves as there is a continuous difference between the balance sheet and TB.
Thanks
Nancy

C
conners100
May 20, 2024

I rang up the helpline and they said the reports are displaying correctly. They said something like  the TB can only show one currency and not unrealised gains/losses and that's why it doesn't match the BS and P+L. Crazy if you ask me! I can't believe you can have an accounting system where the TB that doesn't match the P+L and BS.

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