Balance on paid off loan on balance sheet

Hey there, @JBuf. 

Thanks for reaching out to the Community for support. I hope you're enjoying the day so far. I'm happy to lend a hand with your loan that was paid off. 

To clarify, you state that you had an unknown error, do you mind providing a few more details about this error? Knowing more details can help to resolve what caused the loan to show on the balance sheet with a small balance. Please know that inactivating the account won't remove it from the balance sheet. I would like to lend you a hand and take care of this matter, so it's not showing a small balance on your report. 

I recommend we start with some basic troubleshooting steps while awaiting your response, such as running a Rebuild and Verify on your company file. A Rebuild and Verify will scan over your company file and resolve any data integrity issues you may have, like the small balance on your paid-off loan. I've included the steps to this below. 

1. From the File menu, choose Utilities, then Rebuild Data.
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2. Tap OK to continue with the Rebuild. 
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3. Create a local backup. Once the backup has finished, the Rebuild will start automatically. 

Once the Rebuild has been completed, let's run a Verify to scan for any missed errors. 

1. From the File menu, choose Utilities, then Verify Data. 
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2. The Verify will start automatically. 
3. Select OK when you see the message QuickBooks detected no problem with your data. You may continue using your company file.

Check out Resolving Potential Data Issues for further details. 

I'll be sure to keep an eye out for your response. Please let me know if you have additional questions or concerns. You can reach out to the Community at any time. Take care and have a great day! 

Thank you for your response. We run the Verify and Rebuild periodically. Unfortunately, this has not changed the loan balance. I am unsure what caused the balance to appear. 

Thank you for getting back to us here on the Community forum, @JBuf.

I appreciate you for performing the troubleshooting steps instructed above to isolate the issue you're using. To narrow down the result, you can visit the Audit Trail report to check for possible changes made to your transaction.

Here's how:

1. Click Reports at the top menu bar and choose Account & Taxes.
2. Select Audit Trail.
3. Set the dates, then review the history of your transactions from there.

Moreover, you can also backup your company file and follow these steps to fix the issue with your loan balance:

1. Run the balance sheet report on an accrual basis.
2. Find the date when your balance sheet went out of balance.
3. Find the transactions that are making your balance sheet out of balance.
4.  Re-date the transactions.
5. Delete and reenter the transactions.

For the detailed instructions, open this link: Fix a Balance Sheet that's out of balance.

On the other hand, here's an article you can read more about managing reports in QuickBooks Desktop.

Please feel free to leave a comment below if you need additional help with your loan and report, I always have your back. Keep safe!