Assets don't equal liabilities & equity

Fund Accounting, Accounts Payable, Accounts Receivable, Payroll

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rpadgett
Posts: 3
Joined: Sun Oct 02, 2005 1:17 pm

Assets don't equal liabilities & equity

Post by rpadgett »

Help! My balance sheet does not balance. The problem seems to be in Unrestricted Net Assets. I have a debit balance instead of a credit. I have reviewed the Changes in Equity report and if I add the items on that report, I do not come up with the ending balance. The problems has to do with my release from restrictions account (I think!)

Where can I look for the problem?

oakridge1
Posts: 2
Joined: Tue Feb 01, 2005 10:06 am
Location: Oak Ridge Baptist Church

Balance Sheet Doesn't Balance

Post by oakridge1 »

I have a similar problem - but mine lies with my Sales Tax Receivable account. I added this after I did my original chart of accounts. I must have done something wrong.

My Liabilities & Equity are off by the amount in the Sales Tax Receivable. Where can I look to fix the problem. Thanks, Cindy

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