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Dynamics 365 Community / Forums / Microsoft Dynamics GP (Archived) / Balance Sheet is not b...
Microsoft Dynamics GP (Archived)

Balance Sheet is not balancing

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Posted on by Yemi Ogundepo 480

Hello All,

My balance sheet for year ended dec 31st 2009 is balanced, but on checking my balance sheet as at 31st January 2010 up till June 30th i realised my balance sheet is not balancing. I checked my trial balance for any issues, there is no issue in my trial balance. What could be wrong with the blance sheet and how can i correct it.

Thank you for your speedy response.

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I have the same question (0)
  • Community Member Profile Picture
    Community Member on at
    Re: Balance Sheet is not balancing

    Try Dynamics->Tools->Utilities->Financial->Reconcile

    Check Year, click Open and verify 2010 shows as the open year.  Then click the Reconcile button.  It will run very quickly.  There is no real indicator that it is done.

     This will go through all your GL transactions for 2010 and recalculate the monthly totals of debits and credits.  The reports run from the monthly totals.  This process fixed an out of balance situation for me last month.

  • Sagi88 Profile Picture
    Sagi88 2,250 on at
    Re: Balance Sheet is not balancing

    Hi Yemi.

    What reporting tool are you using to print the Balance Sheet.

    Is it FRX? If so is it possible you opened a new account in GP and not included in the Row Format?

    In the catalog options you can specify to report missing or duplicate accounts.

    A little test - in FRx create row format

    On first line put all Asset account 1???

    on second liability 2???

    etc...run report to see if all balances.

    Hope this helps

     

  • Richard Whaley Profile Picture
    Richard Whaley 25,195 on at
    Re: Balance Sheet is not balancing

    Did you actually close 2009 using GP's GL closing process.  This process brings beginning balances forward for Balance sheet accounts and calculates a Retained Earnings Entry from the zeroed out Income/Expense accounts.  Was the batch that contains the calculated RE entry posted?  Did you manually create an RE entry that would duplicate (perhaps) the calculated RE entry?.

  • Yemi Ogundepo Profile Picture
    Yemi Ogundepo 480 on at
    Re: Balance Sheet is not balancing

    Thanks all for your contribution. The balance sheet is balanced now

    Thank you.

  • Rita Wong Profile Picture
    Rita Wong 400 on at
    Re: Re: Balance Sheet is not balancing

    Hi Yemi,

    How'd you make it balance?

    Rita

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