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Lala57
February 7, 2022
Question

Balance Sheet doesn't balance

  • February 7, 2022
  • 5 replies
  • 6 views

I deleted a duplicate credit memo and now my balance sheet doesn't balance.  I called QB Support and the girl told me she wouldn't tell me how to set up a non-posting account in the Chart of Accounts unless I upgrade to QB 2022 and get full support.  I have QB Desktop Pro 2021 and we have other software programs tied into our QB - we can't just 'upgrade'.  I offered to pay for support for this issue and she said she'd send me an email which told me nothing and then we got disconnected.

5 replies

Rainflurry
Rainflurry
Level 11
February 7, 2022

@Lala57 

 

Deleting a credit memo, by itself, should not cause the balance sheet to not balance as credit memos always have a debit entry (user assigned) and a credit entry (always A/R). I have never seen a balance sheet in QB Desktop not balance.  Any chance you can post a screenshot or give more details? 

L
Lala57Author
February 7, 2022

I know - you think this would be impossible.  The CM was a Cr. to AR for $6,088 and an Dr. to sales.  There ended up being 2 of these CM's on Nov 2nd 2021.  So I deleted one of them.  When I pull up a Balance Sheet on the cash basis on Nov 1st, it balances.  When I pull it up on Nov 2nd, the total assets are $6,088 less than the total Liab & Equity,   I verified that the customer the CM went to is all ok, and I even tried rebuilding the file.

When I pull up a Balance Sheet on the Accrual Basis, it balances.

Rainflurry
Rainflurry
Level 11
February 7, 2022

@Lala57 

 

I came across this thread which describes your issue, however, it is for QB Online:

 

https://quickbooks.intuit.com/learn-support/en-us/reports-and-accounting/errors-on-balance-sheet-due-to-credit-memos/00/499558

 

One user @zliB2b, mentioned that the glitch is: when running a balance sheet on the cash basis, credit memos sometimes drop the debit entry.  That seems to be what has happened with you - the A/R credit entry is shown on the balance sheet but the debit to sales is not - resulting in an overstatement of equity.  One user suggested, toggling back to accrual and then back to cash to see if that helps. I wish I could be more helpful but this may be a system thing.  

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