In this article you will learn some tips and tricks on how to match balance sheet report and register. To know more keep on reading the article and call QuickBooks Help.
What to do when my Balance Sheet report and Register doesn’t match?
The amounts on both the report and the register may not match if your company’s fiscal year is different from the calendar year. This is because the Balance Sheet runs on a calendar year. Because of these variations of this the amount that should be included is not includes and the amount that you want don’t want to include gets.
To match the two, you can change the date of the report to match your fiscal year or change your fiscal year to match calendar year.
Try by changing the date of the report:
• Open the Balance Sheet Report.
• Select Customize.
• Select the appropriate Transaction Dates.
• Click on Run Report.
Or, try changing the fiscal year in your QuickBooks Online company:
• Select the Gear Icon>
• Click on Account and Settings.
• On the left menu, choose Advanced.
• Click on the pencil icon in the accounting area next to First month of fiscal year.
• Choose the First month of your income tax year to make it the first month of your fiscal year or to start in January.
What to do when Balance Sheet, Trial Balance, and Accounts Receivable Aging reports don't agree?
The A/R Aging Report defaults to Current and shows the current status (as of today) of all A/R transactions for the report's date range. The Balance Sheet or Trial Balance report shows the status of A/R as of the report date only if the bill has been paid as of today's date.
Steps to change the Aging Method to Report Date:
• Open the A/R Aging report.
• Click on Customize.
• Click on the Aging drop-down menu.
• Choose Report Date under the aging method.
• Choose Run Report. As long as the Balance Sheet / Trial Balance is run using Accrual as the reporting method the report will balance to the Balance Sheet / Trial Balance.
If the above given steps doesn't help in correcting the issue:
• Check whether the date range on the reports matches.
• Make sure that you are comparing the right numbers. On your A/R Aging report you want to match Open Balance to your Balance Sheet / Trial Balance amount for Accounts Receivable.
To know more on how to manage reports in QuickBooks call QuickBooks help on 1 (855) 441 4436.You can also contact us via email, by writing on support@quickbookconsulting.net. Our customer support executives will provide you with instant help without causing hindrances in your daily business activities. To know more about us you can also visit our website www.quickbookconsulting.net.
What to do when my Balance Sheet report and Register doesn’t match?
The amounts on both the report and the register may not match if your company’s fiscal year is different from the calendar year. This is because the Balance Sheet runs on a calendar year. Because of these variations of this the amount that should be included is not includes and the amount that you want don’t want to include gets.
To match the two, you can change the date of the report to match your fiscal year or change your fiscal year to match calendar year.
Try by changing the date of the report:
• Open the Balance Sheet Report.
• Select Customize.
• Select the appropriate Transaction Dates.
• Click on Run Report.
Or, try changing the fiscal year in your QuickBooks Online company:
• Select the Gear Icon>
• Click on Account and Settings.
• On the left menu, choose Advanced.
• Click on the pencil icon in the accounting area next to First month of fiscal year.
• Choose the First month of your income tax year to make it the first month of your fiscal year or to start in January.
What to do when Balance Sheet, Trial Balance, and Accounts Receivable Aging reports don't agree?
The A/R Aging Report defaults to Current and shows the current status (as of today) of all A/R transactions for the report's date range. The Balance Sheet or Trial Balance report shows the status of A/R as of the report date only if the bill has been paid as of today's date.
Steps to change the Aging Method to Report Date:
• Open the A/R Aging report.
• Click on Customize.
• Click on the Aging drop-down menu.
• Choose Report Date under the aging method.
• Choose Run Report. As long as the Balance Sheet / Trial Balance is run using Accrual as the reporting method the report will balance to the Balance Sheet / Trial Balance.
If the above given steps doesn't help in correcting the issue:
• Check whether the date range on the reports matches.
• Make sure that you are comparing the right numbers. On your A/R Aging report you want to match Open Balance to your Balance Sheet / Trial Balance amount for Accounts Receivable.
To know more on how to manage reports in QuickBooks call QuickBooks help on 1 (855) 441 4436.You can also contact us via email, by writing on support@quickbookconsulting.net. Our customer support executives will provide you with instant help without causing hindrances in your daily business activities. To know more about us you can also visit our website www.quickbookconsulting.net.
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