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Hi, I ran an account activity report for the year (without the zero balance selection in the request for the report checked) and my debits and credits are in balance (being equal to each other). When I run the same report and include (by checking) the zero balance accounts in the report the debits and credits no longer balance. I have an idea, but would prefer to hear yours also since i am not an expert. What could be the cause and is this a cause for concern?

retta wrote:Hi, I ran an account activity report for the year (without the zero balance selection in the request for the report checked) and my debits and credits are in balance (being equal to each other). When I run the same report and include (by checking) the zero balance accounts in the report the debits and credits no longer balance. I have an idea, but would prefer to hear yours also since i am not an expert. What could be the cause and is this a cause for concern?

Lets hear what you think ?? Perhaps you have the right idea in the first place !!

It's not a problem. The difference in the debit and credit totals at the bottom of the Account Activity report is the amount of income/expense that has closed to equity.

You will see an entry on your equity accounts in that report called [SYSTEM GENERATED ENTRY] which is not an actual transaction, but shows the amount adjusted up or down against each equity account for this period.

Well, that's it...I noticed that the differences seemed to be directly related to the system generated entries. I still don't quite understand why the system has to generate entries; but right now I don't care as long as I know my actual debits and credits balance. I jneeded to know in case I need to explain to inquiring minds. Thank you very much for your assistance.

The reason it puts those entries in place is that otherwise the balance of the equity accounts wouldn't match any other report in Fund Accounting. All other reports automatically adjust the income/expense closing to equity.

Pretty sure if we search back far enough here (around 2004-5) there will be posts from one or more people confused by the equity balance being wrong on the Account Activity report