Excluding accounts with no activity on the Income Statement for the specified date range will also prevent the system from including any previous amounts in the account from closing into the Beginning Balance on the Income Statement, making the Ending Balance incorrect.

The Balance Sheet requires the Income Statement accounts to create the Net Assets ending balances on the report. Excluding accounts with no activity on this report will also prevent the system from including any Income Statement accounts with balances in previous years from closing into the Net Asset account(s).

For an accurate result, mark "Include accounts with no activity" on both reports.

If all Fiscal Years except the current active year are hard closed, then excluding accounts with no activity will not change the Net Asset balance as all previous amounts are included in the Net Asset account.