Ownership Equity monthly discrepancies

I'm here to help pull a report showing the discrepancies in your ownership equity, @ji.

Let's run the Transaction Detail by Account report. Then drill down the amount to open and review where the discrepancy. Let me show you how: 

1. Sign in to your QuickBooks Online account. 
2. At the left panel, choose Reports. 
3. In the Find report by name field, search for Transactions Detail by Account report.
4. Select the date under the Report Period. 
5. Once done, click Run report. 
6. Find your account and click the amount to review and check where the discrepancy.

I've also added these articles that can guide you more with managing reports in QuickBooks Online: 

• Customize reports.
• Memorize reports.

Feel free to visit us anytime if you have other queries in running some reports. The QuickBooks Community would be glad to help you again. Keep safe.

I'm still having trouble finding the difference. My 9/30/2020 ownership equity plus Oct net income does not equal my 10/31/2020 ownership equity. There were no equity distributions, or adjusting entries. I've searched the amount of the difference & can not find that exact amount in the GL, or any other reports. Is there another way to find the difference? I'm not sure how it can be out if no post closing entries were made?? I'm obviously missing something, not totally familiar with QB, just curious if there was a report to help me isolate what the difference could be?

I can help provide additional steps to balance those accounts, JI.

Your net income doesn't distribute to the owner's equity automatically. Hence, causing the end of October not to equal the net income plus October's equity.

You can create a journal entry to add a net income to the owners' equity account. Let me guide you through the steps:

1. Click + New.
2. Select Journal entry.
3. Fill out the fields to create your journal entry.
4. Select Save and close.

Upon sharing this, I still suggest consulting your accountant for specific instructions. This is to ensure you have accurate records of your books. If you don't have one, you can look for a bookkeeper here: Find an Accountant.

Don't hesitate to contact me again if you need additional information about your monthly income. I'm always right here in the Community to help.

But the net income plus prior month equity should equal the current month ending equity, whether it posts automatically or not?? How can I find what the difference is, or is there a report to help me try to determine where it is?

Thanks for all of your help!

Thanks for following up with the Community, JI.
 

To find the difference between your net income, plus prior month's equity, and current month's ending equity, there's a few different reports you can use.
 

A Balance Sheet can be ran to identify your net income. You can find detailed steps for generating it in Rubielyn_J's post. Just be sure to enter "Balance Sheet" in your Find report by name field.
 

As for identifying your prior and current month's equity, quick reports of the equity account can be produced.
 

Here's how:
1. In your left navigation bar, go to Accounting, then Chart of Accounts.
2. Find the equity account.
3. Under your ACTION column, use the ▼ drop-down arrow.
4. Click Run report.
5. Input an appropriate Report period.
6. Select Run report.

 

Once you have the details you're looking for from each report, you'll be able to review them and confirm what your difference is.
 

Many useful resources about working with reports can be found in our help article archives.
 

If there's anything else I can assist with, please feel more than welcome to reach out anytime. Have a wonderful day!