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Chhetri_ratna
Level 1

Retained Earning Balance

Hi Expert, 

As of 01/01/2018 balance sheet is not balanced and I found it was off balance by retained earning account balance of the same day. Summary report and transaction by account shows the difference balance, please see attached for your reference. 

Can you help how to check to find out what is going on ? 

Thanks.

 

3 Comments
MaryGraceS
Moderator

Retained Earning Balance

Greetings, Chhetri_ratna.

 

Thank you for posting in the QuickBooks Community. I'm here to help you get your balance sheet balance sorted out so you can get back to business.

 

If your Balance Sheet is out of balance in accrual basis, it may be caused by any of the following:

  • Your data file is damaged.
  • You have entered or linked transactions that are not compatible.
  • You are using multi-currency.

To begin, let's make sure that your QuickBooks Desktop is updated, and secure a backup copy of your company file before doing any of these steps.

 

After that, let's try performing the basic data damage troubleshooting steps.

 

Here's how to Verify data:

  1. Click the File tab at the top menu bar.
  2. Select Utilities.
  3. Click Verify Data.

To Rebuild data:

  1. Click the File tab at the top menu bar.
  2. Select Utilities.
  3. Click Rebuild data.

For more information about this feature, you can visit this article: Resolve data damage on your company file.

 

If you get the same result, you can find more troubleshooting steps in this article: Resolve a Balance Sheet out of balance in accrual basis.

 

The troubleshooting steps is a bit complex. If you need assistance, you can contact our Technical Support Team.

 

Here's how to get in touch with a specialist:

  1. Click this link: Contact Us.
  2. Select QuickBooks Desktop.
  3. Select QuickBooks Enterprise.
  4. Select a topic.
  5. Click the Get Phone Number button.

Keep me posted on how things go once you've tried the steps above. I'll be glad to help you further.

Chhetri_ratna
Level 1

Retained Earning Balance

Thank you Mary, 

That works. I really appreciate your suggestions. 

Regards, 

 

Ratna

MaryGraceS
Moderator

Retained Earning Balance

Hello there, Chhetri_ratna.

 

I'm glad to know you're back on track. Feel free to post again in the QuickBooks Community if you have questions about working in QuickBooks. I'll be happy to help you out.

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