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Rainflurry
Level 15

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@lovecountrymusic 

 

"Your chart of accounts should always reflect the current balance of that account. I have wasted much time tying to figure out why it is not working properly!!"

 

AFAIK, QB has never been designed to show the balance of income and expense accounts.  Your chart of accounts will only show the balance of balance sheet accounts (assets, liabilities, and equity accounts).  Income and expense accounts totals are for a period of time so there's no reason to have their balance showing in the chart of accounts.  If there was a balance for income and expense accounts, what balance would show there - month-to-date, FYTD, last month, last quarter, this quarter?  Balance sheet account balances are running totals since day one of the business so it makes sense to show the balance as of today.  

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