Balance Sheet and P&L Reports

Balance Sheet report
Profit and Loss (P&L) report

These two reports are able to display and print financial information for the current Fiscal Year, the prior Fiscal Year, and the next Fiscal Year. If you are unable to display information for the desired year, chances are the Fiscal Year of your company file is out of range. You can correct this by advancing the Fiscal Year of your company file.

Although an easy task, changing the Fiscal Year of your company file is not a trivial task. Before changing the Fiscal Year of your company file, you need to ensure end of year adjustment journal entries are entered. These usually come from your accountant. For more details on changing the Fiscal Year of your company check the New Fiscal Year FAQ.

If you want the Balance Sheet and P&L reports but do not want to change the Fiscal Year of your company file, you can make a copy of the company file, update the Fiscal Year of the copied file, run the reports, then delete the copied file.

Start the process by locating your company file; open the Company Data Auditor window (Command Centers > Accounts > Company Data Auditor):

  • Click the link for File Location
  • This will open a window in the folder where the company file is located
  • From this window, you can copy the company file to your Desktop
  • Name the Desktop copy Temp
  • Verify the Temp copy exists on your Desktop, and the original company file exists in its original location
  • In the original company file, create a backup
  • Close the original company file, and open the Temp copy on the Desktop
  • Start a new Fiscal Year to advance the Fiscal Year (File > Start a New Fiscal Year)
  • Perform the above step to advance the Fiscal Year to the desired year
  • Run your Balance Sheet and P&L reports
  • Close the Temp company file when you're finished
  • Remove the Temp company file
  • Reopen your original company file, and resume normal tasks