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Jmp17
Level 1

Please help. my current assets as shown on the balance sheet is wrong.

My current asset is wrong. Im wanting only the 2017. but when I run balance sheet my current assets carried over the 2016 and its making the income higher for the whole year which should not be that high. If i check the details to see whats making it higher, there i see that received payments of 2016 are there. pleaseee help.

My run date is correct (January2017) 

3 Comments 3
CharleneMaeF
QuickBooks Team

Please help. my current assets as shown on the balance sheet is wrong.

Hello there, Jmp17.

 

The value of the assets should always equal the combined value of the liabilities and equity. Since your Balance Sheet isn't balancing correctly, you can perform troubleshooting steps to resolve the issue.

 

First, choose each account on the report to view the transactions related to the balance of each account. 

 

Then, start running the date range down by starting from year to date, and narrowing it down each month until you have the date range narrowed to the day that the balance sheet goes off. 

 

From there, you can begin figuring out what transaction is causing the balance sheet to be off and resolve the issue.

 

For additional reference, you can check out this article to resolve common Balance Sheet issues: FAQ: Basic troubleshooting for balance sheets.

 

During these challenging conditions, feel free to visit this link to view our latest resources that can help your business: Small Business Help.

 

I'm only a few clicks away if you have any other QuickBooks questions. Take care!

Jmp17
Level 1

Please help. my current assets as shown on the balance sheet is wrong.

thank u. i have figured it out. now im having problem for the accounts receivables. i get negative. arent this should be positive because its its what we have received?

Rubielyn_J
QuickBooks Team

Please help. my current assets as shown on the balance sheet is wrong.

Hi there, @Jmp17.

 

Let me guide you managing Accounts Receivable (A/R) in QuickBooks Online.

Available credits had caused negative overpayments or duplicate payments, and deposits affecting A/R.

 

To fix this, you can delete a duplicated payments, here's how:

  1. At the left navigation pane, click the Banking menu.
  2. Click to choose the line that contains the duplicate payment and click Edit.
  3. Then click on Save to apply the changes you made.
  4. Once done, go to Accounting, then Chart of Accounts.
  5. To open your bank account register, double-click on the Undeposited funds and choose the duplicate payment you wish to delete.
  6. Click the edit button and select delete payment.

 

I've added these articles that can guide you about A/R in QuickBooks Online:

If you need any confusion, feel free to click the Reply button. I'd be glad to help you. Keep safe!

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