I haven't received a similar report about the incorrect balance on the Balance Sheet report due to credit memos, Conway1021.
Let me provide some insights that can help correct the balance on the report.
The value of the assets should always equal the combined value of the liabilities and equity (Equity = Assets - Liabilities). If your Balance Sheet isn't balancing correctly, you can troubleshoot the issue:
- Select each account on the report to see the transactions related to the balance of each account.
- You can start running the date range down by starting from year to date (YTD), and narrowing it down each month until you have the date range narrowed to the day that the balance sheet goes off.
- From there, you can start to figure out what transaction is causing the balance sheet to be off and resolve the issue.
Additionally, please browse this link for some steps to resolve common Balance Sheet issues: Basic troubleshooting for balance sheets.
I'm sharing these articles about running reports in case you might need them in your future tasks:
Let me know if you have follow-up questions by commenting below. I'll be right here to help manage your reports in QuickBooks.
