My balance sheet does not balance
Compare the same date and included accounts before investigating a remaining difference.
- Who can do this
- Owners, or people with View financial reports
- Where
- Reports, then Balance sheet
- You'll need
- The report date and the totals you are comparing
Start with dates and detailed totals. A rounded summary or a report covering another date can look like a ledger difference.
Compare the report detail
- Open Reports, then Balance sheet.
- Set the date you are checking and generate the report.
- Compare the detailed assets total with the liabilities and equity total.
- Open the trial balance for the same date.
Summary cards round to whole dollars. Use the detailed rows when comparing cents. In General, the balance sheet includes calculated current-year net income and earlier earnings not yet closed; compare the complete equity section rather than only the equity accounts.
Trace a remaining difference
The General balance sheet and trial balance both include inactive accounts with posted activity. Do not create an adjustment solely to make the displayed totals agree.
If the trial balance also disagrees, or the same-date figures still cannot be explained, contact support with the report date, totals and relevant account codes. Your accountant can help review the underlying entries. Why reports differ explains other differences in dates and included records.