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Profit & Loss - Error
When I review the P&L it always has the following warning 'MAY BE INCOMPLETE DATA
*This calculation may be based on incomplete data". What is the checklist for 'complete data'?
*This calculation may be based on incomplete data". What is the checklist for 'complete data'?
I’m unsure
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Inappropriate?Hi Antony
An accounting period is considered incomplete when there are no bank account entries outside of the current period (i.e. nothing dated prior to the start of the accounting period and nothing dated after the accounting period), or where there are unexplained bank transactions within the period.
See this thread from the other day where we discuss the same issue: http://getsatisfaction.com/freeagentc... -
Inappropriate?Thanks Olly although when reviewing the monthly P&L it still has the same error. Given that each month has transaction in the month previous and post it surely the logic of transactions outside the 'current period' does not make sense particularly as we have fully explained all bank transactions on a month to month basis.
I’m undecided
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Inappropriate?Antony,
We're reviewing the usefulness of this message, and soon we'll probably only display it for periods which contain unexplained transactions. -
Inappropriate?I'm seeing a similar thing; I cannot lock my first VAT return as I don't have any banking entries before that period. -
Inappropriate?Paul,
We'll look into that - sorry for the inconvenience... -
Inappropriate?Paul,
FreeAgent no longer checks for banking entries before each period as it used to. But it does check that your latest entry at or after the end of the VAT period (in this case), and that there are no unexplained transactions in the period.
It may well be that you just need to check there are no unexplained entries in that period and/or add (or explain) an entry beyond the end of that VAT return period end date.
Could that be the case? -
Inappropriate?Hi Ed
I did originally wonder if that was the case, so before I posted my first reply I added an explanation after the end of the VAT period. At this point the message changed from one informing me that my last entry was before the end of the period, to one which just said "Data Might Be Incomplete" with no further explanation. After that, I added a manual entry for £1 before the VAT period which did enable the "Lock" link.
So short answer, no I don't think that is the case here, unless I'm doing something strange or missing something.2 Comments
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This answers the question
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Paul,
Just checking if this is still an issue for you that we need to look at for our next release...did it work without the extra manual entry in the end? -
Hi Ed
Yeah, this was sorted in the update after I posted I think, so yes I was able to lock the VAT period without the manual entry.
Cheers,
Paul
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