Hi I am doing a trial balance (accrual) and general ledger ( I am not an accountant - far from it), I have added in the invoices but not received money yet as I going to a bank reconciliation, a way of double checking. (I am re-entering all invoices from 2016 so I can use the system for this tax year)
In the trial balance the bottom line looks like double (very close) - ie it is adding invoices and retained earnings together but essentially the same thing, is that just accounts or wrong. The profit and loss looks ok…
Before I receive the money I want to make sure is correct before I do each invoice. (receiving money)
I guess it is correct, it has Nett loss for unpaid invoices… and the trial balance figures at the bottom are exactly the same, so I assume the figures accounts are correct, just double everything… but I am an accountant.