Zero Out Accounts

It's good to see you posting here in the Community space, jvhandal. And I appreciate you providing such detailed information as well as a screenshot.

The amount shown on the Balance sheet report depends on the reporting period. However, the balance on the bank register is the total balance on all of your transactions.

To further check why the balance of your credit card is not showing zero on the balance sheet report, you can double-click on the amount. This way, it'll drill down all the transactions affecting the balance.

For future reference, here's a great resource about the best practices when reconciling: Reconcile an account in QuickBooks Desktop.

Please let me know if there's anything else I can do for you. I'll be standing by for your response. Have a great day.

Credit Balance Zero as of 8/31/22

But on balance sheet 07/31/23 still small balance which i think has to do w. the exchange.diff.  How do i put at zero?

Thanks for reaching back to us @jvhandal, and adding details about your balance sheet balance. 

I'll gladly help fix your balance sheet when it's out of balance in QuickBooks Desktop. Let's work this out together so you can get back to working order.

First, let's run a Balance Sheet Summary report on an accrual and cash basis. I'll guide you on how:
 

1. From the Reports menu, select Company & Financial and then Balance Sheet Summary.
2. Select Customize Report.
3. On the Display tab, select Accrual under Report Basis. Otherwise, select Cash.
4. Select OK.

If still out of balance after running the report on both accrual and cash basis, then let's create a Journal Entry (JE) to offset the credit balance. Before doing so, I'd recommend checking with your accountant to know the appropriate accounts to be used. This way, your books will remain accurate. Here's how to create a JE:
 

1. Go to the Company menu.
2. Select Make General Journal Entries.
3. Fill out the fields to create your journal entry. Make sure your debits equal your credits when you’re done.
4. Select Save or Save & Close.
    

You can also utilize this article to learn more about the process: Create a journal entry in QuickBooks Desktop.

I'm also adding these articles to narrow down the transaction or transactions that are causing your balance sheet to go out of balance: 

• Fix a Balance Sheet that's out of balance.   
• Advanced troubleshooting for balance sheets out of balance.

Always feel free to leave your comments below if you have other questions in QuickBooks. We're always around to help. Take care.

I have tried making a journal entry to fix the out of balance but here is what happens.

Credit Card on Balance Sheet showing a balance of 463.35

Actual balance Account of Credit card is at 0.

When i create a JE it now puts the balance sheet at zero and gives me a pending balance on the credit card account.

I can provide you with some helpful information on adding journal entries into your QuickBooks account, @jvhandal.

It is important to ensure that you are using the correct accounts and not compromising your account. Therefore, I recommend that you seek advice from a qualified accountant on how to record these entries.

If you need further assistance, please refer to this article on creating journal entries for QuickBooks Desktop for Windows or Mac. 

Additionally, you can view the Transaction Journal report in QuickBooks Desktop to gain a better understanding of debits, credits, and transaction amounts.

If you have any questions regarding journal entries, please don't hesitate to ask. I am always here to help. Have a great day!