Transaction Detail by Account Report doesn't display Expenses for LFY to date setting

Legacy KB ID: 5042

Question

Why don’t entries to expense account in the previous financial year show on the Transaction Detail by Account Report when I select the date range: Last Financial Year to Date setting?

 

Answer

Generate 2 reports or set your Financial Year to encompass the date range of the data you wish to show.

 

The Issue

At the end of the financial year Accounts Business (previously QuickBooks) closes off income and expense accounts to the Retained Earnings account.  When you request a report for income and expense accounts that traverse two financial years, Accounts Business will list the Retained Earnings net amount for the previous financial year then list individually the entries in this financial year. 

If the details you want to see in the report lie within a 12-months span, you can view all transactions by adjusting the financial year for that 12-months span.

Note: If the details you want to see extend over more than a 12-month period, then you will not be able to get all the details on the one report.

 

Detailed Instructions

Option 1 – Generate two reports

  1. Report 1: set date range to Last Financial Year.
  2. Report 2: set date range to This Financial Year-to-Date.
Tip: You can, if you wish, export the reports to Excel and use Excel functions to merge the two reports. 

 

Option 2 – change the Financial Year to encompass the date range required.

Please Note:
this option applies only where the relevant data falls within a 12-month period. 

  1. Company > Company Information
  2. Under Report Information > Financial Year > First month in your: select the first month of your desired report;
  3. Click OK to Save;
  4. Open a Transaction Detail by Account Report and select This Financial Year-to-Date as the date range;
  5. When reporting is complete, return the Financial Year setting to its original month. 

 

 


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Or Log a Support Ticket: https://www.reckon.com/au/support/

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