Table of Contents
An accrual basis of accounting records revenues and expenses as they are earned, irrespective of changes in cash. To resolve the QuickBooks balance sheet out of balance on an accrual basis, you can try these various solutions:
- Troubleshoot basic data damage
- Manually fix the transactions responsible for the balance sheet being out of balance:
1. Determine when QuickBooks balance sheet went out of balance
- Go to the Reports menu
- Select Company & Financial
- Balance Sheet Summary
- Select the Customize Report
- Go to the Display Tab
- Set the Report Basis to Cash
- Change the columns according to the year/month/week/day the Balance Sheet went out of balance.
If it is the year:
- Select All from the Dates drop-down
- From the Display columns, select the year
- Choose OK
- To find the year the balance sheet goes out of balance, compare the Total Assets and Total Liabilities
If it is the month:
- In the From and To Fields, enter the year your balance sheet goes out of balance.
- From the Display columns, select the month
- Choose OK
- To find the month the balance sheet goes out of balance, compare the Total Assets and Total Liabilities.
If it is week:
- In the From and To Fields, enter the month your balance sheet goes out of balance.
- From the Display columns, select the week
- Choose OK
- To find the week the balance sheet goes out of balance, compare the Total Assets and Total Liabilities.
If it is the day:
- In the From and To Fields, enter the week your balance sheet goes out of balance.
- From the Display columns, select the day
- Choose OK
- To find the day the balance sheet goes out of balance, compare the Total Assets and Total Liabilities.
You May Also Read: Resolving QuickBooks Error 9999
2. Find the transaction responsible for QuickBooks Balance sheet out of balance:
Once you have the date when the Balance Sheet goes out of balance, create a Custom Transaction Detail Report to help you identify the transaction causing the problem.
- Reports menu > Select Custom Transaction Detail Report
- Choose Customize Report If the Modify Report window is not open automatically
- Click on the Display Tap
- From Report Date Range, type the date where your balance sheet was found out of balance in the form of the boxes
- Set the Report basis to Accrual
- Under Columns, uncheck Account, Split, CLR, and Class
- Check Amount
- Click OK
- The amount that is out of balance will be the ending balance on this report
If you are still unable to find the transaction is causing the issue, run the following reports:
- Customer Report
- Vendor Report
- Journal Report
- Other Transactions
3. Check and resolve specific data damage
This specific data damage can include the journal entries showing amounts without the associated accounts, the balance sheet summary out of balance, discrepancy in the column settings, and differences in the cash and accrual balance sheets. These require precise manual troubleshooting to fix the problem.
If manually troubleshooting the problem is too difficult, there are other easier ways to resolve the problem. The QuickBooks Customer Care Number is easily available online and is extremely reliable. A QuickBooks Intuit Certified ProAdvisor at the other end of the QuickBooks Enterprise Technical Support Phone Number +1-805-257-5030 will answer any questions you have regarding this issue and will guide you through resolving it.
