Fwd: Re: Difference btw Bal sh & P&L

[Mike or Penny Novack]

On 4/13/2017 6:00 AM, Alain Dormoy wrote:
> Thank you Maf for your reply.
>
> I see what you mean but:
> - Between the former version of my BalSh (same fiscal year) no account balance has change. Only this "Retained earnings" + "Unrealized loss" appeared.
> If I inadvertently entered a transaction outside the range of the P&L, I'm surprised that no account balance has changed. The total Assets and total Liabilities are still the same to the cent.
> What do you think?
> TIA.
> Alain
>
Your P&L (Income Statement) has a start date and a stop date << if you 
did NOT assign these explicitly, stop right now, go back, and do that >> 
Run Balance Sheets for the day before the start date and for the stop 
date. THEN we can talk intelligently about what you are or are not 
seeing on THOSE reports.

The fact that in the above you said "former version of my BalSh (same 
fiscal year)" implies that you are still thinking of a Balance Sheet as 
being for a PERIOD OF TIME (as opposed to some SPECIFIC DATE). Similarly 
an Income Statement (P&L) is for BETWEEN two dates (after the first and 
up to/including the last).

Michael D Novack

Michael D Novack

Michael D Novack