Statement of Financial Position

On finalising the accounts for the last financial year the “Statement of Financial Position” indicates that it does not balance by $0-01. This is caused by the rounding to the nearest cent. It then shows that the out of balance is because the “Current year profit/loss not allocated to members” amounts to minus $622,252-14. However, the “Detailed Statement of Financial Position” correctly shows the $0-01 “Current year profit/loss not allocated to members”. By downloading a Word copy of the document the error can be corrected. Interested to know whether anyone else has had such an experience.

Yes, a similar issue when an unlisted investment value was 5 cents out due to the number of decimal places used for the market value per share. I just did a journal to correct the imbalances.

In the Period Compliance screen, mark Yes on the “Show Member Worksheet” and you will be able to re-allocate the rounding error - it is annoying though that 1 cent can cause all these problems that take a bit of mucking around time to fix.

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Rounding has been the Achilles heal of BGL Super be it Desktop ot SF360 forever. They have just never been able to figure it out.

It seem so simple to deal with yet it persists to this day.

I’ve been ‘fixing’ with the exact method JY has mentioned, in Desktop it was usually an unbalanced Create entries set of transactions and simply deleting the 1 cent jnl line was all that was required. Occasionally you’d have code the cent to one of the members share of profit or share of tax.

The biggest annoying 1cent issue in Desktop was the disposal of assets where the entire history of revaluations for it would end up 1 or 2 cents out on disposal. Luckily BGL eventually inserted a process that would check and create the correction JNLs for you.

Thanks, this solved my problem