Balance Sheet Account does not balance

Jack*

Ran a balance sheet and it shows an account as a "0" balance but if you look at the actual account, it shows as "1,365.00". Not sure why account is not showing up correctly on report.

Quicken_Tyka

Hello Jack,

Thank you for taking the time to visit the Community to ask your question although I apologize that you have not received a response. If the report is set to report on a Cash basis, this will exclude the amounts in the accounts receivable. 

To include these amounts, you will customize the report choose "Advanced" and locate the "Report Basis" section select "Accrual." 

I have also included more information from our help guide below so you can be sure you are selecting the correct basis for your situation.

 What is cash-basis reporting?

A method of bookkeeping in which you regard income or expenses as occurring at the time you actually receive a payment or pay a bill. A cash-basis report shows income only if you've received it, and expenses only if you've paid them. For example, if you haven't received a payment for an invoice yet, a cash-basis report on your sales doesn't include the amount of the invoice.

What is accrual-basis reporting?

A method of bookkeeping in which you regard income or expenses as occurring at the time you ship a product, render a service or receive a purchase. Under this method, the time when you enter a transaction and the time when you actually pay or receive cash may be two separate events.

In Quicken, an accrual-basis report shows income regardless of whether all your customers have paid up, and expenses regardless of whether you've paid all your bills.

The complete help article is available here.

I hope this helps!

-Quicken Tyka