On the Trail Balance report under Fund 01 not in balance

[rojasrj]

On the Trial Balance report within Fund 01 (operational) is not in balance to $0.00. After verifying the previous year Trial Balance report a different amount was showing and checking all the way back for three years, a difference shows but every year is different. Being that is an amount that has accumulated over the years and that all the Bank Statements reconciliation has been done and balance to $0.00. Is there a way to adjust the difference amount to reflect the Trail Balance for the current period to show balance to $0.00 with an internal entry?
Ramon

[Zorak]

Take a look at a Balance Sheet by Fund report including all funds. Usually when one fund gets out of balance, one or more other funds will also be out of balance by the same offsetting amount. The Total column at the far right should be in balance, while individual funds are out of balance.

This is caused by posting transactions that are out of balance across funds, meaning a debit to one accounting fund and the credit to another accounting fund.

If this is the case, you can solve the problem by entering a transaction against the equity (AKA net assets/fund balance) account in each fund, raising (Credit) or lowering (Debit) the balance of each one to force that fund into balance.

When saving the transaction, you will get a warning that the transaction is out of balance across funds, which is likely a warning that has been popping up as those transactions were entered that way over the years.

If there is only one fund, or it is the only one that is out of balance, then you would still enter a transaction against equity to fix it, but this time, enter the letters OOB (Out Of Balance) in the Reference/Check No field to trigger the software to allow an out of balance entry and not require the offsetting debit or credit.

[rojasrj]

Take a look at a Balance Sheet by Fund report including all funds. Usually when one fund gets out of balance, one or more other funds will also be out of balance by the same offsetting amount. The Total column at the far right should be in balance, while individual funds are out of balance.

This is caused by posting transactions that are out of balance across funds, meaning a debit to one accounting fund and the credit to another accounting fund.

If this is the case, you can solve the problem by entering a transaction against the equity (AKA net assets/fund balance) account in each fund, raising (Credit) or lowering (Debit) the balance of each one to force that fund into balance.

When saving the transaction, you will get a warning that the transaction is out of balance across funds, which is likely a warning that has been popping up as those transactions were entered that way over the years.

If there is only one fund, or it is the only one that is out of balance, then you would still enter a transaction against equity to fix it, but this time, enter the letters OOB (Out Of Balance) in the Reference/Check No field to trigger the software to allow an out of balance entry and not require the offsetting debit or credit.

I follow your directions and there is no differences showing. I found out that since 2015 there was a difference in three other funds. Can you give me steps on how to adjust as you mentioned in your response so each individual funds gets fix against their equity? Since the difference is on 01, 30 and 40 Funds.
Ramon

[Zorak]

The figures and account numbers in this example are of course examples. Assuming that fund 01 is out of balance by +$50 and funds 30 and 40 are out by -$25 each:

01-3110-000 Unrestricted Equity (Debit) $50.00
30-3110-000 Unrestricted Equity (Credit) $25.00
40-3110-000 Unrestricted Equity (Credit) $25.00

[rojasrj]

Thanks for the help. It work
Blessings
Ramon