When I run the balance sheet as of today, the balance sheet balance is not balanced. I realized that it is the difference of retained earnings. When I click on it, it shows a different number. I looked back last year's balance sheet, there was no problem at all. The net income from last year matches the number from closing entry. The problem showed up on the 1st day of this year and I need to fix it before the year-end closing entry occur. What should I do?
Also, make sure there are no transactions posted on your retained earnings account. That way, we can guarantee that your account is well recorded. On top this, I recommend reaching out to your accountant for additional guidance in ensuring your account is accurate. They can also help in checking your report and help you fix this.
If you’re not affiliated with one, you can visit our ProAdvisor page and we’ll help you find one from there.
I ran the Balance sheet as of This Fiscal Year- to-date and it is still out of balance. I tried to run a balance sheet detail report and the numbers are balanced. Do you think it is a damage file problem?
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