ISTech Support Forum

ISTech Support Forum
http://www.istechforum.com/YaBB.pl
Evo-ERP and DBA Classic >> Accounting >> Balance Sheet out of balance
http://www.istechforum.com/YaBB.pl?num=1103123359

Message started by yelkack on 12/15/04 at 07:09:19

Title: Balance Sheet out of balance
Post by yelkack on 12/15/04 at 07:09:19

Our retained earnings amount has been wrong since 2001. How do I adjust retained earnings so that the balance sheet will balance in the future?

Thank you!

Title: Re: Balance Sheet out of balance
Post by Lynn Pantic on 12/15/04 at 07:40:37

First, run GL-D for all dates, all journal types and determine whether the total of all transactions are in fact in balance. If they are not then you need to go behind the scenes and make a one-sided entry.

If they are in balance then UT-K-D will reset the GL Account totals equal to the net of transactions and if needed, UT-A, program GLEREDO will recalculate the YE Closing entries to Retained earnings.

Title: Re: Balance Sheet out of balance
Post by yelkack on 12/17/04 at 12:24:11

Yes it is out of balance. How do I make a one sided entry behind the scenes? Also I assume I will be making this to a previous fiscal year which I don't know how to do also.

Thank you

Title: Re: Balance Sheet out of balance
Post by dave on 02/22/05 at 09:29:03

I posted GL adjustments and did a YE close for 2004. And now my balance sheet is out of balance by the amount of the year-end closing. Can anyone tell me what I've done?

Thanks for any help!

Title: Re: Balance Sheet out of balance
Post by wildco on 02/22/05 at 12:00:34

Dave,

Lynn told me that for a year end, the first time you run a balance sheet has to be run with GL-F, not GL-N. Then your retained earnings account will update properly.

Worked for me.

Title: Re: Balance Sheet out of balance
Post by dhattox on 01/17/06 at 13:57:37

Just thought there might be someone out there that could use this info on the subject.

We had to make a couple of JE's to prior year, and when we ran the balance sheet, it did not balance. After reading the previous posts, I decided to try running the GL-F balance sheet. Even though we had already run our custom balance sheet, the GL-F fixed our problem. Now, the custom balance sheet balances, too! :D

Title: Re: Balance Sheet out of balance
Post by Lynn Pantic on 01/17/06 at 15:56:36

Yes, if you use the GL-N Custom balance sheet, any time you make prior year entries, you need to run a GL-F balance sheet first, then the GL-N. On the list of things to fix someday...

Title: Re: Balance Sheet out of balance
Post by oreod15 on 01/18/06 at 05:01:56

My balance sheet was out of balance. I ran GL-D and my transactions were in balance. Then I ran UT-K-D, tht did not fix the problem. Then I ran GLEREDO that made my balance sheet even further out of balance. Is there a step after GLEREO that I am missing that I should be preforming.

Thank you

Title: Re: Balance Sheet out of balance
Post by Lynn Pantic on 01/18/06 at 11:48:45

Did you post all the YE entries in GL-O that GLEREDO created?

Title: Re: Balance Sheet out of balance
Post by oreod15 on 01/18/06 at 13:23:56

Yes I did and the B/S is still out of balance.

Title: Re: Balance Sheet out of balance
Post by oreod15 on 01/19/06 at 05:33:06

I ran all steps today again am not getting nything to post unger GL-O ., and my B/S is even further out of balance. What is my next step.

Thank you

Title: Re: Balance Sheet out of balance
Post by Lenette on 01/19/06 at 06:19:12

just a thought.... (only because it happened to us)

have you checked to make sure that all your account types (liability, asset, etc) are in the correct section?

we had a liability account that was in the asset section which caused difference on our b/s.