Cash Basis Balance Sheet

Hi there, @Friarstor. I'm here to help ensure you run your Balance Sheet report correctly in QuickBooks Desktop (QBDT).

Running the Balance Sheet report using the cash method will show those paid transactions that involve Product/Service items or Liability accounts. Also, it won't display the Accounts Receivable A/R (Asset) and Accounts Payable A/P (Liability).

Since the details showing up on your report is not consistent. You'll need to ensure that you set it to the correct accounting method. 

If this is not the case, you can follow the steps in this article to fix your Balance Sheet report:  Fix a Balance Sheet that's out of balance. 

I'll also include this helpful guide that you can use in case you need to modify the details of your report: Customize reports in QuickBooks Desktop.

I'm always here ready to lend a hand if you have any other concerns about running the Balance Sheet report in QBO. Have a good one and stay safe. 

Thank you for your reply.

When we set-up QB we did choose the cash basis under the accounting.

When the reports are created it also gives us an option in the top left to choose between cash and accural and we always select cash.

Any other thought on why this is happening? 

Thank you 

Good morning, @Friarstor. 

I appreciate you coming back to the Community. Allow me to point you in the right direction. 

To get the best solution to your problem, I recommend contacting our Customer Support Team for further assistance. They have a screen share tool they can use to review your account with you and narrow down the root of the issue. Here's how: 

1. Go to the Help menu. 
2. Press the QuickBooks Desktop Help option. 
3. Hit the Contact Us hyperlink/button. 
4. Enter your question and click Let's talk. 
5. Scroll down and choose to Get a callback. 

It's that easy! 

Keep us updated on how the call goes. We're always here to lend a helping hand. Take care! 

@Friarstor  RE: Figured out the difference were checks that were reconciled in January that some how modified the Dec cash balance.

I'm not sure why it appears that way, but changing the reconciliation status on any transaction won't change the balance sheet. The only use for that status is for reconcile. It has no impact on your books.

A paid off Mortgage is showing up on my balance Sheet. It did not show up last week. What would cause it. I can not seem to zero ti outR

Welcome to the thread, Camnight68.

If you're seeing a paid-off mortgage on your Balance sheet report in QuickBooks Desktop (QBDT) and you're unsure why it wasn't there before, there could be a few reasons for this. You should check the following to narrow down the issue:

• Transaction Entry - ensure no accidental entries or changes made to the mortgage account or related transactions. You can open the transaction history for any recent entries that might have affected the balance.
• Reconciliation - if the mortgage account was reconciled, check if any adjustments were made during the reconciliation process that could have affected the balance.
• Date Range - verify that the balance sheet is set to the correct date range. Sometimes, if the date range is extended, it can show transactions that were previously not visible.

If you're still unable to zero out the balance, you may need to review the recent transactions and make any necessary adjustments or corrections. However, it's always a good idea to consult with an accountant before making any changes.

Here is an article you can refer to for more information on how to match your total assets to your total liabilities on your Balance Sheet: Fix a Balance Sheet that's out of balance.

For future reference, here's a great resource to help you close out your current year and prepare for the new year in QuickBooks with your accountant: Year-end guide for QuickBooks Desktop.

If you have any further questions or concerns regarding your balance sheet report, feel free to comment below. I'm always here to help. Have a great day!