Chart of Accounts balance is incorrect

SunDummy · ‎October 15, 2023

Desktop Pro Plus 2023 error.

I have a strange issue with my chart of accounts. One of my trust account sub-accounts (bank account) is showing an incorrect balance. The balance sheet is correct, as is the reconciliation; it's just wrong on the chart of accounts.

It should be $1470; but it's $3970, $2500 too high. It started when I keyed a check for $2500; I saved it, and noticed that I had it assigned to the trust account, not the correct checking account, so I changed it, and saved it. It reports correctly to the ledger for the checking account, and is not on the ledger for the trust account, so everything looks correct. But on the chart of accounts, it's showing the incorrect figure $3970. It's like it took the correction I made to the check, and doubled it, but not in the ledger, just the chart.

What is going on? I've closed Qbks, and rebooted, but the problem persists. Help!

DHeraV · ‎October 15, 2023

I appreciate you sharing details of what you've performed to help isolate the issue you're encountering here in the Community space, Sun.

Possible data damage can make QuickBooks Desktop (QBDT) behave unexpectedly, which might have caused the Chart of Accounts to display an incorrect balance. To address this issue, let's follow a series of troubleshooting steps that involve verifying and rebuilding your company file. These steps are specifically designed to resolve common issues and ensure the accuracy of your financial data in QuickBooks.

Let me guide you through the steps on how:

Verify data (scan company file for errors or data damage)

Go to Window, then select Close All.
GO to the File menu, then select Utilities.
Select Verify Data. If you see:
a. QuickBooks detected no problems with your data—your data is clean, and you don’t need to do anything else.
b. An error message—search for it on our QuickBooks Desktop support site for how to fix it.
c. Your data has lost integrity—Data damage was found in the file. Rebuild your data to fix it.

To rebuild your company data, I recommend referring to this article for detailed steps: Verify and Rebuild Data in QuickBooks Desktop. It provides comprehensive instructions on how to perform the rebuilding process to ensure the integrity of your company data in QuickBooks.

Moreover, I'll also share this article to learn more ways how to fix QuickBooks' common issues: Fix common problems and errors with the QuickBooks Desktop Tool Hub.

Kindly notify me of how it goes by adding your comment below. I'm always around and ready to provide the necessary assistance you may require.

View solution in original post

DHeraV · ‎October 15, 2023

I appreciate you sharing details of what you've performed to help isolate the issue you're encountering here in the Community space, Sun.

Possible data damage can make QuickBooks Desktop (QBDT) behave unexpectedly, which might have caused the Chart of Accounts to display an incorrect balance. To address this issue, let's follow a series of troubleshooting steps that involve verifying and rebuilding your company file. These steps are specifically designed to resolve common issues and ensure the accuracy of your financial data in QuickBooks.

Let me guide you through the steps on how:

Verify data (scan company file for errors or data damage)

Go to Window, then select Close All.
GO to the File menu, then select Utilities.
Select Verify Data. If you see:
a. QuickBooks detected no problems with your data—your data is clean, and you don’t need to do anything else.
b. An error message—search for it on our QuickBooks Desktop support site for how to fix it.
c. Your data has lost integrity—Data damage was found in the file. Rebuild your data to fix it.

To rebuild your company data, I recommend referring to this article for detailed steps: Verify and Rebuild Data in QuickBooks Desktop. It provides comprehensive instructions on how to perform the rebuilding process to ensure the integrity of your company data in QuickBooks.

Moreover, I'll also share this article to learn more ways how to fix QuickBooks' common issues: Fix common problems and errors with the QuickBooks Desktop Tool Hub.

Kindly notify me of how it goes by adding your comment below. I'm always around and ready to provide the necessary assistance you may require.

SunDummy · ‎October 15, 2023

Thanks for this; it's all fixed now.

Cheers!

Jelayca V · ‎October 15, 2023

Hello, @SunDummy.

Thank you for contacting QuickBooks Community. We are delighted to have been of assistance to you. Our main goal is to ensure that you have the best possible experience with our software.

If you have any further questions or concerns regarding the Chart of Accounts in QuickBooks Desktop, please don't hesitate to reach out to us anytime. We're always here to help. Stay safe and have a great day!

Amjad Sawal · ‎December 11, 2023

i am also facing same issue . .... Now Solved .. Thanks

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Chart of Accounts balance is incorrect