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You'll have to drill down into individual accounts and transactions to identify where the imbalance originates and correct them, Keji.
In the Balance Sheet, the total value of assets must always equal the combined value of liabilities and equity (Equity = Assets - Liabilities). You can follow the outlined troubleshooting steps below to fix the incorrect total on the Modern view. Please note that this process can be complex, and we recommend consulting your accountant for further assistance.
- Go to the Reports menu and select Balance Sheet in the Standard reports section.
- Review each account (click the total amount to pull up the Transaction Report) in the report to examine the transactions affecting its balance.
- Narrow down the date range, starting with year-to-date (YTD) and gradually reducing it month by month, until you pinpoint the specific day the balance sheet goes off.
- From there, identify the transactions causing the imbalance and correct them.
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Feel free to reach out in the comments if you have more questions. We'll be glad to assist!
