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confused55555
March 16, 2020
Question

Balance sheet has the same totals in both columns but says "out of balance"

  • March 16, 2020
  • 1 reply
  • 0 views

In TurboTax Business, my balance sheet is showing the same totals in each column but says it is out of balance.  How do I fix this?

 

All the numbers are showing up in blue but the balances are in pink. 

It says "out of balance by" and the two numbers are identical. Should these numbers be zero?

1 reply

D
DianeC958
March 16, 2020

On the balance sheet you have Assets and Liabilities for the Beginning of the year and for the End of the year.

 

The Assets for the Beginning of the year and the Liabilities for the beginning of the year must be the same amount.  The same is true for the End of the Year.  The Assets and Liabilities must be the same amount.  

 

Check to make sure that the Beginning Assets and Liabilities totals are the same amounts and the Ending Assets and Liabilities are the same amounts.

 

 

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