diff --git a/addons/account/report/account_partner_ledger.py b/addons/account/report/account_partner_ledger.py
index e66c3a9d523..92d84e05c26 100644
--- a/addons/account/report/account_partner_ledger.py
+++ b/addons/account/report/account_partner_ledger.py
@@ -28,6 +28,7 @@ class third_party_ledger(report_sxw.rml_parse, common_report_header):
 
     def __init__(self, cr, uid, name, context=None):
         super(third_party_ledger, self).__init__(cr, uid, name, context=context)
+        self.init_bal_sum = 0.0
         self.localcontext.update({
             'time': time,
             'lines': self.lines,
@@ -152,8 +153,10 @@ class third_party_ledger(report_sxw.rml_parse, common_report_header):
                 (partner.id, tuple(self.account_ids), tuple(move_state)))
         res = self.cr.dictfetchall()
         sum = 0.0
+        if self.initial_balance:
+            sum = self.init_bal_sum
         for r in res:
-            sum = r['debit'] - r['credit']
+            sum += r['debit'] - r['credit']
             r['progress'] = sum
             full_account.append(r)
         return full_account
@@ -178,7 +181,9 @@ class third_party_ledger(report_sxw.rml_parse, common_report_header):
             " " + RECONCILE_TAG + " "\
             "AND " + self.init_query + "  ",
             (partner.id, tuple(move_state), tuple(self.account_ids)))
-        return self.cr.fetchall()
+        res = self.cr.fetchall()
+        self.init_bal_sum = res[0][2]
+        return res
 
     def _sum_debit_partner(self, partner):
         move_state = ['draft','posted']
@@ -414,4 +419,4 @@ report_sxw.report_sxw('report.account.third_party_ledger_other', 'res.partner',
         'addons/account/report/account_partner_ledger_other.rml',parser=third_party_ledger,
         header='internal')
 
-# vim:expandtab:smartindent:tabstop=4:softtabstop=4:shiftwidth=4:
\ No newline at end of file
+# vim:expandtab:smartindent:tabstop=4:softtabstop=4:shiftwidth=4: