Balance Sheets Reports
I am trying to generate an accurate balance sheet for my company. A little back story, my father passed away in December 2021, leaving myself, my brother and sister in control of the business since my mother is medically incapable of making her own decisions.
I have created a Balance Sheet for last year, and each individual year. But I have concern on that. It seems like that, say I pull a Balance Sheet report for 12/31/2021, then all the data for that balance sheet is everything in Quickbooks from the date the file was started, back into the 1990's through that date. Is that correct? The custom date range only allows me to put in the date as of, but does not given me the option for dates from and to, for exmaple. I can put in 12/31/2021, but I can't generate a BS report based on 01/01/2021 thru 12/31/2021. Again, this leads me to believe that the balance sheet report is a running total since the start of time of the Quickbooks file for this company.
Second issue on the Balance Sheet report is that it list accounts that are no longer active and used. For example, my father's original credit card for the company, that he stopped using in 2017 and replaced after it was compromized, all the credit card bills were paid off, as they are each month, yet, the BS Report shows X dollar amount on that credit card, on my 2021 report, though it has not been used since 2017. Is there a way to remove it from the report and the balance sheet?