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BalanceSheet for banking account does not match the last Balance Sheet.

I submitted a Balance Sheet and P&L to my accountant for last year and taxes were submitted.  When I went to do that for the current year somehow the balance sheet from prior year doesn't match with the Balance Sheet I did for the current year.  How do I fix this?

 

Kathy Tweeten

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Solved
Best answer 09-04-2019

Accepted Solutions
Moderator

Re: BalanceSheet for banking account does not match the last Balance Sheet.

It's good to see you here in the Community, ktweeten.

 

I'd be happy to share with you some information about how a Balance Sheet report works.

 

If your Balance Sheet isn't matching another report period and you've checked that all the settings are the same, please keep in mind that a Balance Sheet carries a beginning balance and is a cumulative report.

 

In your case, to further isolate the issue, you can compare your Balance sheet report to different periods to identify what causes the unmatch. To create a customized comparison report for your Balance Sheet, here's what you'll need to do:

  1. Click Reports at the top menu, then click Company & Financial.
  2. Select Balance Sheet report.
  3. Click Customize Report at the top of the report.
  4. Click Report Dates drop-down list and choose the date range you want to compare.
  5. Select the Previous Period checkbox, the Previous Year checkbox, or both.
  6. (Optional) For each comparison, select the $ Change checkbox, the % Change checkbox, or both.When you select these checkboxes, the report displays the dollar change or percentage change from the previous period or year.
  7. Click OK.

That's it! For additional reference, I'm attaching some articles that you may find helpful in the future:

If you have any other follow up questions, please let me know by commenting below. I'd be happy to answer it for you. Have a great day!

2 Comments
Moderator

Re: BalanceSheet for banking account does not match the last Balance Sheet.

It's good to see you here in the Community, ktweeten.

 

I'd be happy to share with you some information about how a Balance Sheet report works.

 

If your Balance Sheet isn't matching another report period and you've checked that all the settings are the same, please keep in mind that a Balance Sheet carries a beginning balance and is a cumulative report.

 

In your case, to further isolate the issue, you can compare your Balance sheet report to different periods to identify what causes the unmatch. To create a customized comparison report for your Balance Sheet, here's what you'll need to do:

  1. Click Reports at the top menu, then click Company & Financial.
  2. Select Balance Sheet report.
  3. Click Customize Report at the top of the report.
  4. Click Report Dates drop-down list and choose the date range you want to compare.
  5. Select the Previous Period checkbox, the Previous Year checkbox, or both.
  6. (Optional) For each comparison, select the $ Change checkbox, the % Change checkbox, or both.When you select these checkboxes, the report displays the dollar change or percentage change from the previous period or year.
  7. Click OK.

That's it! For additional reference, I'm attaching some articles that you may find helpful in the future:

If you have any other follow up questions, please let me know by commenting below. I'd be happy to answer it for you. Have a great day!

Not applicable

Re: BalanceSheet for banking account does not match the last Balance Sheet.

Thanks MirriamM, really helpful instructions.  It's fixed

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