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May 26, 2022
Question

Balance Sheet Wrong Entry

  • May 26, 2022
  • 3 replies
  • 18 views

I made wrong entries for CD interest received over the years, thus the balance sheet still lists the interest as a negative amount, even though the CD's have matured and  the total value the funds have been transferred to the savings account.  How can I eliminate that line item from the balance sheet? 

3 replies

AlcaeusF
Level 14
May 26, 2022

Hi there, @2161.

 

I can help you remove or eliminate the incorrect entry in your Balance Sheet report in QuickBooks Desktop (QBDT) for Mac.

 

We can remove line items by filtering the report to only show the accounts that you need. All you have to do is to select the specific account and exclude the account used for the interest.

 

Here's how:

 

  1. In the Balance Sheet report, click the Customize option.
  2. Select the Filters tab.
  3. Tick the checkbox next to the Accounts except for the one used for the items in question.

 

On the other hand, if you want to completely eliminate those entries from the report, I suggest consulting an accountant since you mentioned that the value of the funds has been moved to his savings account.

 

To learn more about managing and customizing reports in QBDT for Mac, consider checking out this article: Customize reports in QuickBooks Desktop for Mac.

 

For more tips and other resources, I recommend visiting our website for future reference: Self-help articles.

 

Leave a comment below if you have additional questions about this or anything else QuickBooks. I'll be happy to help. Take care.

2161Author
May 28, 2022

Thank you for your reply.  I will contact an accountant, as the value is included in the total value of the CD that was transferred to a savings account.