Profit & Loss Does Not Match Balance Sheet

Q:  Why does the net income on my P&L statement not match the amount on my balance sheet? A:  Having your first I/S line number being set incorrectly could cause this.  To verify your first I/S line number:

  •  Print a Chart of Accounts report.
  • Locate the first income account.
  • Make note of this account’s line number, which is listed in the F/S # column.

To set the first I/S line number in  CertiflexDimension, go to >File, >Company Maintenance, and >Master Data Properties, click >General Ledger/CW.  Locate the “First I/S Line No.” field.  If this does not match the F/S# associated with your first income account, set the correct number, click >OK, and then click Close.