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Small and medium business | Business Central, N...
Suggested Answer

Balance Sheet Out of Balance

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Posted on by 5

Hi, how do you correct a balance sheet/trial balance that is out of balance?

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  • Suggested answer
    JAngle Profile Picture
    159 on at

    By a lot or a little? Could be something that has been going on a while so it’s bad setup or it’s a one off posting. Initial thing to do would extract the general ledger entries, just search for the page. Depending on your chart of accounts numbering you will already know but you want to locate postings that use a balancing account from the same section of the CoA. In excel I think this is easier as you can do multiple column sorting.

    Once you locate the entries you will want to reverse them and then make correction postings. If there is a lot I would check where the troublesome accounts are used in setup or the source code of the transaction and batch name to see who is doing it.

  • TammyZ Profile Picture
    5 on at

    It's off a little but I I don't see which specific account is causing the balance too be off.  How do I extract the GL entries?  I just started with BC in June so I think it may be in set up but not sure.

  • TammyZ Profile Picture
    5 on at

    I found the entry and tried to reverse but it said it has already been reversed.  How can I fix now?

  • Suggested answer
    Community Member Profile Picture
    on at

    Tammy,

    When you say the Balance Sheet is out-of-balance are you running an Account Schedule and the report is out-of-balance or looking at the Trial Balance and it does not net to zero? BC will always book a Debit and Credit when it posts. The question here is when examining a Balance Sheet you will have Assets, Liabilities, and Equity (which includes the Net Income). If your Account Schedule is where the issue lies, check the Rows (GL Accounts and any formulas). If you can reply with image of out-of-balance this can help.

    Thanks,

    Steve

  • TammyZ Profile Picture
    5 on at

    I was able to find the entries and reverse them.

  • Suggested answer
    Community Member Profile Picture
    on at

    Tammy,

    Great to hear that this is resolved.

    Steve

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