We have our Balance Sheet & Profit and Loss setup through Advance Financial, and we are having various issues. On the Balance sheet the Total Current Liabilities is not reflecting the proper total. I did check the layout and all of the accounts are included in the total (R41 thru R54). The odd thing is, that it is $44,296.30 less than the sum, but in being so, the Balance Sheet balances. Further, the figure for the Net Profit is not the same as Net Profit from the 'Net Income/Loss Source' that it is set to. Again, if it were the proper figure, it would not balance - the net profit on the Balance sheet is much higher than the figure on the P&L. I am not sure where it is pulling the data from, or why/how it would come up with an incorrect sum for the liabilities?
I went though a summary trial balance to see if any accounts were missing, but couldn't come up with anything. I do know our 'Current Checkbook Balance' is way off, and suspect our Cash Account Balance may be as well. We do reconcile monthly without issue. There was a large Adjustment made a few months back to compensate for a Bank account merger, in which the funds were previously not accounted for (accountant had us do Adjusting Journal entries at year end last year but I don't think any of that would account for the funds in question). There were previously P&L accounts set as Balance Sheet accounts, but I believe that was all corrected before 21' was closed. This is all inherited to me after years of likely kicking the can down the road, and I have no background in accounting minus basic bookkeeping, so I am unsure of where to begin.
