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B
bizhanshaban321
January 31, 2023
Question

I need help with my business taxes

  • January 31, 2023
  • 1 reply
  • 0 views
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1 reply

M
MinhT1
January 31, 2023

Please clarify and be more specific so we can help.

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B
bizhanshaban321Author
February 2, 2023

There two entry errors on balance sheet. 

1 Entry Error: Form 1065 p4-5: End of year Difference -  The ending balance sheet is out of balance by $2963.00

2 Entry Error:  Form 1065 p4-5: Begin of year Difference -  The Beginning balance sheet is out of balance by -12000.00

 

 

I'm really lost at this point. Please help thank you

A
AbrahamT
February 2, 2023

First thing you have to do is to make sure that your ending balances from the previous year is carried to to beginning balances of the current year. It sounds like some number is off or something. That will resolve 120,000 of the ending  balances of the current year. Then check your financial statements  to make sure that all your debits and credits flow through to the input properly and see what happens. From what you are telling me, I have limited information as to how to go clarify this further.

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