Balance Sheet Totals Not Consistent

[Charles Day]

On Tue, Aug 25, 2009 at 6:59 AM, Derek Atkins <warlord at mit.edu> wrote:

> Hi,
>
> "Mike C." <mtcarr2 at verizon.net> writes:
>
> > I have a problem with the balance sheet totals that I can't isolate.
> > The Total Assets does not equal the Total Liabilities and Equity.  I
> > have a large number of investment asset, income, and expense accounts
> > so it is difficult to find where the problem is.  The difference
> > between the Net Income on the Income Statement and the Retained
> > Earnings on the Balance Sheet is about $1000 but the difference
> > between Total Assets and Total Liabilities and Equity is about $20,000
> > on the Balance Sheet.  I have tried using both the default accounts
> > and selected all accounts with the same answer.
> > It seems that the program should make these lines equal on the balance
> > sheet independent of whether the inputs are correct or not so I don't
> > understand how the problem happens.
> > I am using version 2.2.9 on Windows XP.
> > Any suggestions on how to resolve this issue would be appreciated.
>
> Most likely you made investment sales and didn't calculate the Capital
> Gains.  You'll need to track down those transactions and account for them.
>

That's what I was thinking too. Mike, run a trial balance report and see if
it balances.

>
> > Thanks,
> > Mike
>
> -derek
>
> --
>       Derek Atkins, SB '93 MIT EE, SM '95 MIT Media Laboratory
>       Member, MIT Student Information Processing Board  (SIPB)
>       URL: http://web.mit.edu/warlord/    PP-ASEL-IA     N1NWH
>       warlord at MIT.EDU                        PGP key available
>

-Charles