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Anyone else having problems with balance sheet? I've talked to Support twice, and no solution.

Windows Canadian Version 2020 R25.24. I am using it for business only. The business report "Balance Sheet" does not report the Accounts Receivable and Accounts payable correctly for date requested. I am new to Quicken, and have spent considerable time getting it set up and the first two months entered. Supports solution is to wait for a possible update. That doesn't work for me. How do I trust the program reports, if the balance sheet doesn't work properly? I'm at the point of thinking Quicken was the wrong choice. Any help would be greatly appreciated.

Answers

  • Tom Young
    Tom Young SuperUser ✭✭✭✭✭
    If you run a balance sheet as of "today" and compare the AR and AP balances to the Account Bar to the left or right of your screen, are the numbers the same, or different.  If "different", do they both happen to be off by the same amount, or no?  What's the magnitude of the difference(s)?
    I've not used the business version of Quicken, which you appear to be using, but I can't quite fathom how those two numbers on the balance sheet can be out of sync with the Accounts themselves.  A "possible update" doesn't seem like the right approach here.
  • NotACPA
    NotACPA SuperUser, Windows Beta Beta
    In what sense are A/P and A/R not reported correctly?  Are they included in the report at all?

    Q user since DOS version 5
    Now running Quicken Windows Subscription,  Home & Business
    Retired "Certified Information Systems Auditor" & Bank Audit VP
  • Yes, Tom, when I use today's date, the amounts shown for A/R and A/P are still wrong - different from - what the account says. No, they are not out by the same amount. A/R is out 48,816,72 and A/P is out 3,679.80.
    NotACPA - yes, they are included in the report, but out by the amounts just stated.
    I have spent several hours with 2 different support people, and their supervisors, and they couldn't figure it out.
    I have sent two "report a problem". Of course, they don't get back to you from that. It goes to a "possible" update someday....
    Possibly, an older version that works, would be the answer?
  • NotACPA
    NotACPA SuperUser, Windows Beta Beta
    What are you comparing to determine  that the balance sheet report is wrong?
    Is your Account Bar (to the side of the screen) showing Current  Balances, or Ending Balances?
    If Ending Balances, what is the ending date of your balance sheet report?
    Q user since DOS version 5
    Now running Quicken Windows Subscription,  Home & Business
    Retired "Certified Information Systems Auditor" & Bank Audit VP
  • Tom Young
    Tom Young SuperUser ✭✭✭✭✭
    edited October 2020
    I would have thought that Quicken support would have taken the obvious tact of checking that what you're seeing isn't simply that the Account Bar is using one date and the balance sheet report a different date, but maybe they didn't.  So do check that as @NotACPA suggests.
    Staying with "today's" date and that $3,679.80 difference, can you spot anything, any transaction or group of transactions, that can explain the difference?  Can you run a "detail ledger" (some kind of a "report," I'd think) that lists out how much is owed to each vendor, with a summary total?  If you can do something like that, which number - balance sheet or Account - agrees with it?
  • Of course I have done all those things, and the problem has been verified by support, twice. Not just with my figures, but with a test company.
    The two months in question, I have on my old program (it is for personal use, not designed for business, that is why I am changing programs.) I do have the figures from that program, as well as the ones in the accounts on Quicken. Please believe me when I say the report has these two items wrong.
  • chaneys
    chaneys Member
    Not sure if you solved this, but if you go under customize and the advanced tab and check accrual instead of cash it will add in the A/R’s.
This discussion has been closed.