GL Report Starting Balance

Hello,

The General Ledger Report in NetSuite has a column for the rolling balance total of each account. This starting balance appears to continually add up over fiscal years, including previous years data dating back to the start of a company on NetSuite.

Is there a way to reset the starting balance so that it starts at 0 for all accounts and keeps track of the rolling total throughout the fiscal year? As you can see from the screenshot below, the balance includes prior years data – this report was run for This Fiscal Year.

GL Report Starting Balance

Rookie Asked on July 31, 2023 in Accounting.
Add Comment
1 Answer(s)

I mean if you really want to do this, just customize the report and uncheck the “Add Running Balance Column” checkbox. Then you can add another amount column, which be affected by only your selected periods, and check the “Add Grand Total” and/or the “Add Running Balance Column” (this to get your rolling total through the year).  However, I’m not sure I know of any accountants who would be expecting a “balance” for a balance sheet account (particularly for a cash account, which this looks like) to NOT include the prior periods’ opening balance, so just be sure you know who you’re sharing this with and making sure this is actually what’s needed and they understand what this value corresponds to. Best of luck!

Intermediate Answered on August 22, 2023.
Add Comment

Your Answer

By posting your answer, you agree to the privacy policy and terms of service.
  • This site made possible by our sponsors:   Tipalti   Celigo   Become a Sponsor   Become a Sponsor