QuickBooks software is enriched with so many features that eventually it becomes unavoidable getting the software into problems. The users face certain issues that end up with affecting the work flow. QuickBooks balance sheet out of balance is one of those issues that the users face. It indicates that the cash basis, accrual basis or doesn’t balance in company balance sheet . It means that the total assets do not equalize the sum of total liabilities and total equities (A = L + E).
How to Fix QuickBooks Balance Sheet Out Of Balance Error
The QuickBooks balance sheet might be out of balance due to several reasons:
QB data file is Probably damaged
Linked or manually entered transaction are not compatible with QB system
Multi-currency transaction dealing in QuickBooks
**Note**Multi currency transactions put the balance sheet out of balance. The issue crops up when the exchange rate on the payment differs from the exchange rate when the invoice was originally recorded.
Even user also facing similar kind of issue when QuickBooks Accounts Receivable not matching with Balance Sheet for this they can resolve by following some manual checking .
Intuit has recommended several solutions under different scenarios. The user can follow the solutions accordingly to get the best results. Ensure the actual cause of the error then follow the appropriate solution that will save time. If the problem still persists or for any further queries contact QuickBooks customer support.
Solutions:
1: Troubleshoot by using basic data damage
Verify and build your data file again.
Use qbwin.log to identify and resolve errors.
Run the balance sheet
Check balances to view the balance.
2: Locate the transactions causing the B/S mismatch
Step 1: Complete the date when the Balance Sheet goes out of balance
Go to Reports menu -> Select Company & Financial -> Balance Sheet Summary.
Click Customize Report.
Go to the Display Tab:
Set the Report Basis to either Cash or Accrual, whichever is out of balance.
Select the year, month, week and day the balance sheet goes out of balance.
Step 2: Locate the exact transaction causing the issue
3: Check and resolve specific forms of data damage
Also user can try rebuild QuickBooks Data in case data damages during the process .
Following the above solutions is not helping you to resolve the issues? Contact QuickBooks Technical Customer Support for fetching assistance and immediate resolution. By any chance if you are not able to connect with the support executives you can immediately contact karanrawat.com to fetch expert resolution services from our in-house trained technicians who are available round the clock. We consider the urgency of our customers and assist their needs and requirements from our esteemed customers.