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Investment statemets don't balance to GL

Every year I make entries in the GL for buys, sells, capital gains, Eligible dividends, other income, interest and foreign income but the GL is so far out of balance from the statements.  I have followed all the entries from the statements to the GL nothing.

DOES ANYONE ELSE HAVE THIS PROBLEM?

IS THERE SOMETHING I MIGHT BE MISSING?

 

I am at a loss and it's driving me crazy.  My accountant said not to worry about it but then he questions it when I submit my work

Any thoughts or ideas would be greatly appreciated.

Solved
Best answer March 18, 2020

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QuickBooks Team

Investment statemets don't balance to GL

Hello neprice,

 

I can appreciate you reaching out about this. Having books that aren't quite balancing correctly can be a hassle and trying to figure out where the issue is originating from can cause extra work for you and your accountant. I want to make sure you get this sorted out.

 

The best practice when using QuickBooks Desktop is to use the features available. The built-in options for entering invoices, bills, and various other kinds of transactions are configured to properly hit the necessary accounts and areas in the program so that you can have confidence your data is entered correctly. While entering transactions in the general ledger is an option, as you well know, it can cause situations like this where things aren't lining up when this method is used exclusively.

 

To help resolve this issue, I recommend working with your accountant to determine where the errors are coming from or what adjustments you can make to balance the books. Moving forward, it's ideal to use the built-in features to optimize your use of QuickBooks Desktop and reduce the number of errors you encounter.

 

To work with your accountant, you can provide them with an Accountant's Copy of your company file. This allows them to review the data in your books and make necessary changes which you can then apply later on. Learn more from the following article: Create an Accountant's Copy of your company file in QuickBooks Desktop

 

To get started with using the features available in the program, take a look at the articles in the QuickBooks Desktop community section to learn what to do.

 

Don't be afraid to ask more questions. Have a great day.

View solution in original post

1 Comment
Highlighted
QuickBooks Team

Investment statemets don't balance to GL

Hello neprice,

 

I can appreciate you reaching out about this. Having books that aren't quite balancing correctly can be a hassle and trying to figure out where the issue is originating from can cause extra work for you and your accountant. I want to make sure you get this sorted out.

 

The best practice when using QuickBooks Desktop is to use the features available. The built-in options for entering invoices, bills, and various other kinds of transactions are configured to properly hit the necessary accounts and areas in the program so that you can have confidence your data is entered correctly. While entering transactions in the general ledger is an option, as you well know, it can cause situations like this where things aren't lining up when this method is used exclusively.

 

To help resolve this issue, I recommend working with your accountant to determine where the errors are coming from or what adjustments you can make to balance the books. Moving forward, it's ideal to use the built-in features to optimize your use of QuickBooks Desktop and reduce the number of errors you encounter.

 

To work with your accountant, you can provide them with an Accountant's Copy of your company file. This allows them to review the data in your books and make necessary changes which you can then apply later on. Learn more from the following article: Create an Accountant's Copy of your company file in QuickBooks Desktop

 

To get started with using the features available in the program, take a look at the articles in the QuickBooks Desktop community section to learn what to do.

 

Don't be afraid to ask more questions. Have a great day.

View solution in original post