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Former Member
Jan 18, 2012 at 02:07 PM

Require two different Financial Reports for the Same Financial Year - 2011

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Hi Experts,

The financial Year of the client is from jan-Dec.The client needs different financial reports (P&L , B/S), one from Jan-Aug and another from Sept-Dec for the FY 2011 since the management of the company has changed from Sept-2011 onwards. So when tried to generate the financial reports from Sept-Dec , system shows the carry forward opening balances of income and expenses from Aug 2011 which they do not want. Since we have not done any closing activities at the end of aug-2011 this figure is bound to come. So in this scenario is there any possibilities to get a fresh financial reports from Sept to Dec 2011 where there should not be any opening balances of expenses and incomes for Sept 2011.

Since transferring of balances from income and expenses to retained earnings accounts has done yearly basis , how can we do this for the periods also or any other method to sort out this issue.

Hope my question is clear. if not pls revert with the queries.

Thanks in Advance,

Arabinda