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JULIE B.
08-06-2001, 09:24 AM
I'm new to Peachtree and this is my first fiscal close. When I entered the info. for the first month of the new fiscal year and ran a trial balance, the cumuliative totals don't appear, just the current months info. How do I get a TB will all the entered info. for the life of the library?

asphelpdeskinc
08-06-2001, 04:47 PM
What you are describing sounds normal. A trial balance shows cumulative balances ONLY for balance sheet type accounts (assets, liabilities, equity).

When a new fiscal year is started, the income and expenses start over - any cumulative effect in these types of accounts is only for the current year. The prior year's income is "closed" to the retained earnings account (equity).

If this is not the case, I would need further information to help.

Jim Ronson
http://www.asphelpdeskinc.com