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balance sheet bug
I looked at the balance sheet for our LLP and noticed that it does not balance.
The Partners' capital accounts are shown as zero (there are 3 of us - each zero).
I clicked on them to see detail and each has a balance of thousands arising from various drawings so I think the error is that the transactions in the system are not flowing through into the balance sheet.
The trial blanace is wrong as well presumably for the same reason.
This is not reassuring chaps - come on!!
The Partners' capital accounts are shown as zero (there are 3 of us - each zero).
I clicked on them to see detail and each has a balance of thousands arising from various drawings so I think the error is that the transactions in the system are not flowing through into the balance sheet.
The trial blanace is wrong as well presumably for the same reason.
This is not reassuring chaps - come on!!
I’m thinking this should not be happening
2
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The more people who report this problem, the more it gets noticed.
The company has a solution in progress.
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Inappropriate?Stefan,
Could you drop me a line directly (ed at freeagentcentral dot com) with your account name? I'll make sure this is resolved as speedily as we can.
Sorry for the inconvenience. -
Inappropriate?Stefan,
Thanks for your email. I can confirm that there's an issue with the way we handle partnership drawings and the capital accounts, I'm afraid.
Sorry about that, we're working to address the issue and include that fix in our next software release in less than a fortnight's time.
As an aside, the opening balances for your company don't balance anyway, as the bank account opening balances should be offset by opening capital balances for each partner, or by other opening balances.
If you'd like to chat this through do drop me another email and we can set up a call in the next couple of days... -
Inappropriate?I just noticed we have this problem as well: the Balance Sheet for 2009 shows 0 for my partner and my Capital Account. Clicking on each shows significant figures for draws.
If I look at the Trial Balance for 2009, it shows the correct Capital Account values for each.
I’m anxious
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