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June 12, 2021
Question

I updated sales which fixed net income, but the balance sheet has not updated

  • June 12, 2021
  • 1 reply
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balance sheet out of balance

1 reply

June 12, 2021

Let me help you fix your balance sheet report, @sl945575.

 

Your total assets should match your total liabilities on your Balance Sheet. You'll want to run the report on accrual and on a cash basis to help us figure it out.

  1. Go to Reports, then type Balance Sheet Summary in the field.
  2. In the Accounting method section, select Accrual or Cash.
  3. Click Run report.

If it's out of balance on both a cash and accrual basis, you'll want to locate the transactions that are causing the problem. Find the date when the report went out of balance. Just change the Report period to All Dates and then tap Run report. See the image below.

 

 

 

 

 

From there, you can either re-date, delete, or re-enter the transaction in question to fix the report.

 

Learn more about filtering the report in this article: Customize reports in QuickBooks Online.

 

Additionally, here's a link that covers all the tasks you can do when using the report feature. Just choose a topic that fits your concern.

 

Keep me posted if you have follow-up questions or concerns about reports. I'll be here for you. Take care and stay safe.