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D
dlake
December 14, 2022
Question

AR Balance Sheet Does Not Match AR Aging; Due to Condensed Data from 2014

  • December 14, 2022
  • 1 reply
  • 0 views

Good morning, 

I am taking over from a previous controller and comparing our balance sheet accounts to their corresponding reports to ensure they are in good shape. We used a Condense utility back in 2014 apparently, which has affected our AR balance by -$2,173.06. This is the exact amount of the variance between our AR balance sheet amount and our AR aging. How do I fix this? It is causing our AR Balance Sheet account to be underreported by that amount.

1 reply

D
dlakeAuthor
December 14, 2022

See attached for what shows up on our collections report.

C
Carneil_C
December 14, 2022

Hello there, @dlake.

 

I appreciate you laying out the details and adding a screenshot to your concern. Let's work together to fix your query about matching your reports in QuickBooks Online so you'll be able to get back to business in no time.

 

The first thing we can do is to ensure that the accounting method of the reports is accurate. This could be something to do with the reports discrepancy.

 

Alternatively, you can change the AR aging report method to the report date. This is usually the reason why the reports don't match up. Here's how:

 

  1. Open the A/R Ageing report, then click Customise.
  2. Select Ageing.
  3. Under Ageing Method, choose Report Date.
  4. Select Run report.

 

If you're still running into problems, consider these:

 

  • If a bill has been paid today, it won't show.
  • Please ensure the date range on the reports matches.
  • Be sure you're comparing the correct numbers.
  • On your A/R Ageing report, you want to match the Open Balance to your Balance Sheet / Trial Balance amount for Accounts Receivable.

 

If the issue persists, you can contact our QuickBooks Online Support Team. They have equipped tools to have a screen-sharing session with them in a safe environment, so they'll be able to investigate this matter for you and find a possible fix.

 

Additionally, I've added some resources that you can use to learn more about how to personalise and export reports to help you manage your business:

 

 

I'm just a post away if you have other questions about your reports. It's always my pleasure to help. Keep safe, and have a good one! 

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