QuickBooks Desktop Pro 2019
A few months ago, my wife took over the treasurer position for our local swim association. Without going into too much detail, historically they have been having the treasurer handle all of the accounting as well. A problem we are in the process of correction. However, in the interim we are faced with submitting the IRS Form 990 for a 501(c)3 origination. To put things nicely the QB was a mess. I.e. Old Bills and Invoices (years old) that were unpaid, duplicate transactions, duplicate bills (unpaid), etc. I've cleaned up some of the simple stuff, i.e. deleted/voided the duplicate registry entries and bills, and adjusted the old invoices so that they were "paid".
On to Form 990. We get to the end and Part XI (Reconciliation of Net Assets) does not balance. Based on the delta in our checking and money market accounts from the beginning on the cycle (1 July 202) to the end of the cycle (30 June 2021), we should have a net income of $556.20. However the P&L for the same period shows a net loss of $2104.28. The difference in the data entered into Part VIII (Statement of Revenue) and Part IX (Statement of Functional Expenses) matches the P&L of -$2104.28. There are a couple of uncleared checks that were written prior to the end of the cycle, but they are small amounts (I'm not sure how to handle those on the 990 either). I have gone through the checking and MM registers to verify that everything there was listed in our bank statements and vice versa.
Considering that the bank statements are well, bank statements, I tend to believe that those are correct in showing that we have a net income of $556.20, and that there is something wrong in QBs that is causing the P&L to be incorrect, such as a bill that should not be in our July->June cycle being dated such that it is.
I have a basic understanding of QB, but at this point I'm pretty much at a loss of what to look for and how.
