Balance Sheet Report

Confirm account mappings and the period you want to review.

1. 1
   Open Reports and select Balance Sheet.
2. 2
   Use Filter by date and All Currencies, then click Search.
3. 3
   Compare assets with liabilities plus equity.
4. 4
   Open any unexpected asset, liability, or equity account in General Ledger and inspect the posted entries that make up its balance.
5. 5
   Run Trial Balance at the same cutoff and currency. Compare the account balances before signing off on the statement.

Assets should equal liabilities plus equity at the same cutoff. Current earnings may appear in equity before a year-end close; investigate the source entries if the relationship or an account balance looks wrong.

Current earnings can appear in equity before year-end close. Use the same cutoff and currency as the trial balance.

WARNING: An out-of-balance or unfamiliar value needs account/journal tracing; do not add a balancing entry without identifying its cause.

Open any unexpected account balance in the general ledger and trace its posted entries before finalizing the period.

Do not enter a balancing journal merely to make the totals agree. First check the period, currency, account mapping, and any late or duplicate posting.