Net Assets not equal to total equity

[Martin-B]

Hi,

The Net Assets does not equal Equity. The Trial Balance is also out by the same amount. 

There is an account named Historial Balances Account which is causing this difference and I want to make it zero to fix the issue, but am unable to. 

Can you guide how do I fix this? 

Many thanks,

Vishal 

[Stuart_W · Accepted solution]

HI @Martin-B

Can you advise if the out of balance amount (i.e. Net Assets - Total Equity) equals the historical balancing amount? If so, please do the following:

1. Backup the client file
2. Go to the Setup Menu > Balances > Account Opening Balances
3. Select an account with a $0 opening balance (note this account)
4. Enter a $1 opening balance for this account and click ok
5. Go back to Setup Menu > Balances > Account Opening Balances and remove the $1 balance to make it $0
6. Click Ok
7. Run your balance sheet again and it should now balance.

Also please do me a favour and go to Setup Menu->Linked Accounts->Accounts and Banking Accounts->Equity Account for Historical Balancing, and let me know what's there. Also please let me know what it says on the Opening Balances window down the bottom for "Amount Left to be allocated".

Please do let me know how you get on.

[Martin-B]

Thanks a lot! It worked!!

[JoyceHansen]

I flowed your steps , but it still not equal