How Can a Balance Sheet be Out of Balance?
Balance sheets generated in QuickBooks (or any other accounting software) should be in balance, right?
Then why is it that more and more people are telling me that theirs don’t balance?
BALANCE SHEETS THAT DON’T BALANCE?
I’ll put this disclaimer in right up front – my expertise is not in understanding the plumbing and database structure that makes QuickBooks tick. (NOTE: if you are an expert and can offer our readers insights on this issue, feel free to do so!)
However, it sure seems odd to me that QuickBooks runs into trouble getting a basic financial report to balance.
Even worse, folks are telling me that the problem seems to be ongoing, regardless of what fixes they attempt to make.
THE MIND-NUMBING STEPS TO FIX BALANCE SHEETS THAT ARE OUT OF BALANCE
The QuickBooks support team suggests this list of fixes when your balance sheet gets wonky.
Have you walked through them to try and resolve this problem for your business?
My guess is that you’ve been ready to put a hammer through your screen shortly after you begin this troubleshooting process.
DID YOU KNOW THIS MAY BE A RECURRING PROBLEM?
A link within the support article above indicates that QuickBooks balance sheets that are not in balance may actually be a recurring problem.
A scary theme that seems prominent in these support articles is “data damage”.
Data damage usually means shipping your QuickBooks data file to the “Intuit Data Services” team for them to examine it and see if a fix is possible.
Did I mention that any transactions you add while they have your file will have to be added again once you get the repaired file back?
Sometimes, they have the file for a short period of time. Others, not so short (as in multiple days). Imagine having to add back multiple days worth of transactions to your file… NOTE: Do you have experience, good or bad, with the Intuit Data Services team? If so, please post them in the comments box.
INTERESTING WORKAROUND FOR THE OUT OF BALANCE SITUATION?
My friends over at The Intuitive Accountant have proposed this workaround for your out of balance report situation.
Does this solution work for you? If so, that’s great!
If not, are you using any other workarounds for this problem that you care to share?
COULD IT BE – THE QUICKBOOKS DATABASE IS JUST NOT AS SOLID AS IT SHOULD BE?
Just thinking out loud here for a second…
- The support articles indicate that this problem may be recurring (and a number of my clients will attest to that!)
- The support article explicitly states that a fix may not be immediately available :
- This problem has been called out for several years now, and is definitely not new to some of my clients either
Can’t help but wonder if the underlying database of QuickBooks needs some pretty major help at this point?
I’ve tried to find reports of other accounting software bumping into the same issue, but came up empty. They may be out there somewhere – not sure.
FRUSTRATED USER COMMUNITY
I don’t know what the ultimate solution to this ongoing problem is. That’s above my pay grade.
However, I do know that this problem is causing a great deal of frustration within the QuickBooks community.
Here’s hoping that a permanent fix appears sooner rather than later…of course, Intuit may likely suggest that you move to QBO where this problem has not been reported. But that’s a story for another time…