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llz1
March 9, 2022
Question

Balance Sheet Does Not Balance in Cash Basis

  • March 9, 2022
  • 2 replies
  • 0 views

At the help topic: Balance Sheet Report out of balance - Recurring, there is a link within the text shown as Resolve a Balance Sheet out of balance in cash basis. This link (https://community.intuit.com/content/p_na_na_gl_cas_na_article:L1Fh6z7OG_US_en_US) is broken as it shows up with this message "Not Found. Redirecting to https://quickbooks.intuit.com/learn-support/". I need to know how to resolve a balance sheet out of balance in cash basis. Also, when I run a standard balance sheet and change from the balances accrual basis to cash basis, a popup window opens noting that it does not balance & points to a link (http://http-download.intuit.com/http.intuit/QBDT_HELP/QBDTUrlRedirect.html?QBURL_ID=article000113&QB_VERSION=30). Then as it opens the web page URL is https://community.intuit.com/articles/1580938 and it shows:  "Not Found. Redirecting to https://quickbooks.intuit.com/learn-support/".  Where is this help page?

    2 replies

    C
    Carneil_C
    March 9, 2022

    Help has arrived, @llz1. I'm very eager to share some workarounds and information on how to resolve a balance sheet out of balance in accrual basis in QuickBooks Desktop.

     

    You’ll have to identify and repair transactions that do not have accounts assigned and run the following report.

     

    Please be guided by the steps below:

    1. Run the Custom Transaction Detail report (Reports > Custom Reports > Transaction Detail)
    2. Set the Dates to All.
    3. Set the Basis to Cash.
    4. Set Total by to Account List.
    5. Add the Item column.
    6. Select OK.

    From there, scroll to the bottom of the report. If the last group of transactions has the heading No account and the Account column is blank, then these transaction targets have no accounts assigned to them.

     

    Here’s how to fix it:

    1. Open the Edit Item window for the Item.
    2. Change the Account and select OK.
    3. Reopen the Edit Item window.
    4. Change the Account back to the original account and choose OK.
    5. Repeat Steps 1 - 4 for each transaction on the above report that does not have an account.

    Please know that we have an updated article with the troubleshooting steps for balance sheets that are out of balance.

     

    In addition, I've got this helpful resource to guide you further on how to fix balance sheet issues.

     

    You can always reply or reach out to us again if you need anything else with your transactions in QBDT. We're always here to guide and assist whenever you need help. Have a good one!

    L
    llz1Author
    March 11, 2022

    Resolve a Balance Sheet out of balance in cash basis was my issue. You gave me in accrual basis advice. But I played with what you gave me in cash basis and found a lead to assist me.

    A
    Anonymous
    March 15, 2022

    You sound shocked. Sadly QuickBooks customer support is useless. 

    I am struggling with the same issue. Will share if the solution is found. 

    Same broken links in offered solutions and useless operators without proper training as the main source of  "support". Oh, but I noticed software prices went up. Ugh!

     

      J
      jlwebercpa
      May 1, 2022

      I am having the same problem, the solution provided was for an accrual basis balance sheet.  I need to know how to fix my CASH Basis balance sheet that is out of balance.

      C
      CharleneMaeF
      May 1, 2022

      Hi there, jlwebercpa. I've got the steps to fix your Cash Basis Balance Sheet.

       

      To start, let's determine if the issue is caused by the reporting period. I'll show you how:

      1. Go to the Reports menu and then select Company & Financials. 
      2. Choose Balance Sheet Summary.
      3. Select Customize Report.
      4. On the Display tab, select All on the Dates drop-down menu.
      5. Go to the Report Basis section and then select Cash.
      6. In the Columns section, select Year from the Display columns by drop-down menu.
      7. Click OK.
      8. Compare your Total Assets to Total Liabilities & Equity. Find when your balance sheet goes out of balance.

       

      Once you find the year, follow the same steps to narrow down the exact date.

      1. Repeat steps 1 through 6 above. This time, from the Display columns by ▼ drop-down menu, select Month.
      2. After you find the month, follow steps 1 through 6 again. Now, select Week.
      3. And finally, once you find the week, repeat the steps. This time, select Day.

       

      After having the dates of the report, let's find the transactions that are making your balance sheet out of balance. Here's how:

      1. From the Reports menu, select Custom Report and then Transaction Detail.
      2. On the Modify Report window, look for the Report Date Range section. Enter the date the report went out of balance in the From and To fields.
      3. Go to the Report Basis section, then select Cash.
      4. In the Columns section, uncheck Account, Split, Clr, and Class.
      5. I'd suggest selecting the Amount. This will make the report easier to read. Then, choose the Paid Amount column.
      6. Select OK.

       

      The ending balance in the Paid Amount column should equal the amount that is out of balance. Look through the report to find the transaction or transactions that add up to this value.

       

      If you can't locate the transactions, I'd recommend following the steps in this article: Advanced Troubleshooting for Balance Sheets out of Balance.

       

      After locating them, please see Step 4 on this article to resolve the balance: Fix a Balance Sheet that's Out of Balance.

       

      Additionally, I've added these articles that'll help you personalize and memorize your financial reports. This way, you can easily access them in the future:

       

      Please let me know if you have other questions about managing reports in QuickBooks Desktop. It's my pleasure to help you put. Keep safe always!

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