Unbalanced balance sheet

[Mark Eackloff]

This happened to me recently.  I determined that it was caused by an 
unbalanced entry.  Yes, that's right.  Apparently it is possible to 
enter only one side of a transaction.  I'm not sure if that's a 
"feature" or a bug.

Anyway, I located the transaction by repeatedly creating balance sheet 
reports on various dates to determine when the imbalance first 
manifested itself.  By using a pseudo binary search using balance sheet 
reports on these different dates I was able to zeroe in on the date it 
first appeared.  I then started looking at all the transactions on that 
date and found the unbalanced entry.

Mark Eackloff

Derrick Ashby wrote:
> Hello list,
> 
> I have a problem with the balance sheet report for my personal accounts. 
> It isn't balanced!  Assets is supposed to equal Liabilities + Equity, 
> and there is around $1,000 difference (Assets = 71,047.32 and 
> Liabilities & Equity = 72,020.10 (Liabilities 6,213.44, Unrealised Gains 
> = 39,404.37, Total Equity = 26,402.29 (including Retained Earnings  and 
> Net Profit)).  Given that each transaction has to balance as it is 
> entered, I can only assume that somewhere along the way I have used 
> inappropriate accounts to balance transactions against, but is there a 
> good way of working out where?).
> 
> Is it a problem that I have purchased a fixed asset with a credit card, 
> where 10% of the purchase price is entered as a tax expense  (Asset = 
> $748, Liability = $680, GST = $68)?  Well, no, apparently not.  The tax 
> component is included in the net profit calculation  as a reduction in 
> Equity - I just tested this out in a new blank set of books.
> 
> Derrick Ashby
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