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The Historical Balancing account balance is incorrect

jfernando0403

The balance sheet does not balance. The difference is because of a figure on the Historical balancing account.

How can a accounting system have accounts such as a trial balance and balance sheet that does not balance.

Software is Account Right.

Can someone help us.

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Genreve_S

Hi @jfernando0403,

Thank you for the response and the additional information.

May I confirm if you followed the steps mentioned in my previous response too?

We look forward to your response.

Thanks,
Genreve

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Kiranpatel1

My historical balance should be xero .I am trying to do delet and 0 out but it won't allow me . because its linked account

jfernando0403

The openning balance was recorded as at 1/1/2013. The historical balancing account of -142,427.86 occured in 2019. From 2019 the balance sheet does not balance.

Genreve_S

Hi @jfernando0403,

Thanks for posting and welcome to the Community Forum.

I'm sorry to hear about your balance sheet out-of-balance issue. May I get you to follow these instructions to refresh the historical balancing account?

Make a backup of your file (just in case we need to restore it).
Go to Setup > Balances > Account Opening Balances window.
Select an account with a $0 opening balance (make sure to take note of that account).
Enter a $1 opening balance to this account and click OK.
Go back to Setup > Balances > Account Opening Balances window and return the value of the chosen account to $0.
Click OK.
Run the balance sheet report again to check the balances.

Let us know if you require any further assistance.

Thanks,
Genreve