Follow

What does the function "successful booking made" check?

For a proper close of business, your balance sheet and income statement must be balanced with each other (double record). bexio checks this balance as follows:

 

Profit/loss booking - General

Important
Since the update of March 4, 2020, we have converted the accounting to two decimal places. What this means in detail and for which fiscal years the changeover will take place can be found in the support article "From 6 decimal places to 2 decimal places".

The easiest way to find out whether your current fiscal year has been converted is to click on the "Filter" icon under "Accounting -> "Reports" -> "Income statement" and select the desired fiscal year in the top left-hand corner. If you see the option "Number of decimal places", this fiscal year is still managed with six decimal places. If you do not see this option, the selected fiscal year is managed with two decimal places

It is best to post the profit/loss in bexio with your trustee/accountant in account 9200, once it has been entered in your chart of accounts.

6 decimal places

Please note that bexio performs all calculations to six decimal places and therefore also shows the profit/loss with six decimal places.

This means that you must also post the profit in account 9200 with six decimal places. You can display the profit/loss to six decimal places in the balance sheet as well as in the income statement using the filter settings and then use this amount for manual posting.

2 decimal places

If you book a profit/loss in a fiscal year that is managed to 2 decimal places, a profit/loss booking with 2 decimal places is sufficient.

 

Balance of assets = Balance of liabilities

The sum of the balances of your assets must match the sum of the balances of your liabilities. In other words, the asset side and the liability side of the balance sheet shall be in balance.

Before the check (before profit/loss booking):

 

After the check (after profit/loss booking):

 

Balance of income accounts = Balance of expense accounts

The sum of the balances of your revenue accounts must match the sum of the balances of your expense accounts. In other words, the revenue side and the expense side of the balance sheet shall be in balance.

 

The following accounts must be balanced:

Account 9000 - Income statement

Account 9000 Income statement must be balanced (balance = 0), this means that the debit and credit amounts must be the same.

 

Account 9100 - Opening balance

Account 9100 Opening balance must be balanced (balance = 0), this means that the debit and credit amounts must be the same.

 

Account 9101 - Closing balance

Account 9101 Closing balance must be balanced (balance = 0), this means that the debit and credit amounts must be the same.

 

Account 9900 - Corrections

Account 9900 Corrections must be balanced (balance = 0), this means that the debit and credit amounts must be the same.

 

Tip:

It is best to check this by opening the account sheet of the respective account and checking the closing balance.

 

Was this article helpful?
1 out of 16 found this helpful
Have more questions? Submit a request