cancel
Showing results for 
Search instead for 
Did you mean: 
Highlighted
Level 1

My trial balance and balance sheet does not reconcile under the cash method, drs do not equal credits

 
3 Comments
Highlighted
Moderator

My trial balance and balance sheet does not reconcile under the cash method, drs do not equal credits

Good day, accounting433.

 

Let me help clear things about why Trial Balance and Balance Sheet does not reconcile under the cash method in QuickBooks Online (QBO).

 

The Trial balance report is made on a particular date and its ending balances are presented in the debit or credit column. A Balance Sheet, on the other hand is made at the end of each and every financial year and this presents the shareholder's equity, liabilities, and assets of the company. That said, it is normal for a Trial Balance and Balance Sheet to not be equal.

 

Here are some additional articles about managing a wide range of reports in QBO:

 

You might also want to visit our QuickBooks Online learning guides for tutorials and webinars about the product.

 

I'll be right here if you have further questions. Keep safe and have a good one.

Highlighted
Level 1

My trial balance and balance sheet does not reconcile under the cash method, drs do not equal credits

The Dr column and the Cr column do not reconile when I run a cash based trial balance.

 

My net assets do not reconcile to Equity when I run a cash balance sheet

Highlighted
QuickBooks Team

My trial balance and balance sheet does not reconcile under the cash method, drs do not equal credits

Hi accounting433, 

 

It is tricky for us without looking at the file to get an idea of the current settings and makeup of the file. I encourage you to reach out to our friendly support staff by clicking here so we can troubleshoot some options.

 

If we are unsuccessful you may need to reach out to an accountant or bookkeeper to assist with the transactions on the file. 

 

Thanks, 

 

-Steven