Article ID: 8256

Determining the Report Period for Financial Statements

The report period you select on the Statements (General Ledger) window affects each Financial Statement differently due to the nature of each statement. The Income Statement lists accounting information for the date range you enter in the Start Date and End Date boxes. The Trial Balance and Balance Sheet provide accounting information from your PCLaw® start date (beginning of your books) up to the date you enter in the End Date box. The General Ledger Statement lists transactions individually for the date range you enter in the Start Date and End Date boxes, but it also includes the balance forward from the previous period.

 

NOTE:

The report start date is still significant when you create a Trial Balance or Balance Sheet because PCLaw® uses month end balances for dates prior to the start date to calculate balances faster. PCLaw® produces the Trial Balance or Balance Sheet slower when you enter a date range spanning many months because it includes each individual entry within that range to calculate balances.