• Rural Community

    Unbalanced accountants report

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    If the Accountants report is unbalanced, the issue should be found and fixed before the financial year is closed.

    Don't force the year closed; it will make the problem worse.

    Why is the report unbalanced?

    99% of the time an unbalanced accountants report is due to bank and transaction balances being incorrect because:

    • the opening bank balance for the year does not match the opening balance of the first reconciled page
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    • the opening bank balance for each page doesn't match the prior month's closing
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    • a page has a discrepancy
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    How to find the discrepancy

    1. Make a note of the amount the Accountants annual report is unbalanced by.

    2. Go to Reports - Reconciliation. Does the opening balance for the first page match the opening balance for the year?

    Yes - Move to 3
    No - Go to CHANGE OPENING BALANCE

    1. Are there any discrepancies?
      Yes - Go to How to balance a page

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