Balance sheet not matching
Hi I have done a journal to correct gst entries that was incorrect from locked periods. The journal is not reflecting in the balance sheet
Forum Discussion
the trail balance is balancing. So in the journal I have basically reversed the transaction and re entered it correctly. To reflect the correct GST. I have checked all reports are for the same date. Accountant suggested to do the journal. The journal date is not against a locked period.
Hi tbezuidenhout,
That does sound odd if it doesn't match in the same period. This may be related to the current financial year in the file rather than a transaction issue. A false out-of-balance can appear on the Balance Sheet or Trial Balance if the report is run for a financial year that is more than one year ahead of the current financial year in the file.
A good next step would be to:
- check the current financial year in the file
- roll the financial year forward until the report year is the current year or next year
- run the Balance Sheet or Trial Balance again
If the report is still out of balance after that, it may need further investigation as a genuine out-of-balance issue. In that case, please contact our support team through My Account or live chat via MOCA, our virtual assistant
Regards,
Genreve
