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v9 Community: The Balance Sheet is Wrong for every year but first one

Ken Woychesko
on 9/2/16, 11:41 PM 441 views

The Balance Sheet is wrong for every year except your first year, because Odoo doesn't carry-forward the balances in your Assets, Liabilities, and Equity accounts -- it 0's them out just like with income and expense accounts. Note: with Odoo's new financial-report-on-the-fly methodology, it doesn't 0-out the accounts with a JE, it 0's-out computationally.

The effect of 0'ing out these accounts is that suddenly the balances in your Bank, Accounts Receivable, Accounts Payable, and Equity type accounts have no effect on your Balance Sheet.

For example, on Dec. 31 your Balance Sheet might show:

$10,000 in AR

$20,000 in your bank

$40,000 in AP, and

$10,000 in Retained Earnings

On Jan 1, your Balance Sheet would show $0 in all of those accounts.

Can somebody please confirm they are seeing they same thing as I am? I would love to be wrong about this. Maybe it is the way I'm testing it or I'm misunderstanding how it should work.

Version 9c

You're exactly correct Ray -- I was choosing both a Start Date and an End Date. Thank you very much for pointing that out!

Ken Woychesko
on 9/3/16, 1:32 PM
Ray Carnes
On 9/4/16, 4:58 PM

I am not seeing the same thing. Are you using your own Chart of Accounts or one of the Charts provided? Post the types of each of the accounts you have listed. Are you running the report properly? A Balance Sheet always has the same start date, it is only the END DATE that changes.

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Asked: 9/2/16, 11:41 PM
Seen: 441 times
Last updated: 9/4/16, 4:58 PM