Before posting your financial reports, BUDGETO performs two validations to ensure that your balance sheet complies with accounting standards. If you have one of the following two errors, this means that there is a risk of unbalancing your balance sheet and you need to correct it.


There are 2 possible errors:

ERROR 1: The last month selected for your historical balance does not match the last month selected for your historical income statement.  

ERROR 2: The « Retained earnings (deficit) » for the last month selected in your historical balance sheet does not match the « Retained earnings (deficit) at the end » of the last month selected in your historical income statement. 


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ERROR 1: The last month selected for your historical balance does not match the last month selected for your historical income statement.  




This error means that you do not use the same months to use in your financial reports for your Historical Balance Sheet and Historical Income Statement. In our example, we report the month of February 2017 for the Historical Income Statement and the month of March 2017 for the Historical Balance Sheet.




To use (display) your HISTORICAL DATA in your FINANCIAL REPORTS, you must report the same months in your Historical Balance Sheet and Historical Income Statement.


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ERROR 2: The « Retained earnings (deficit) » for the last month selected in your historical balance sheet does not match the « Retained earnings (deficit) at the end » of the last month selected in your historical income statement. 




This error means that the retained earnings (BNR) of your Historical Balance Sheet is not the same as your Historical Income Statement. In our example, the Retained Earnings (Deficit) of the Historical Balance Sheet is $ 24,809 while the Profit (Deficit), Year End of the Historical Income Statement is $ 24,810, a difference of $ 1. See the lines in green below. 

 



To use (display) your HISTORICAL DATA in your FINANCIAL REPORTS, you must have the same BNR in the Historical Balance Sheet and the Historical Income Statement.