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Sage 50 Balance Sheet Out Of Balance – Fix To Reconcile General Ledger

Sage 50 Balance Sheet

Sage 50 Balance Sheet Out of Balance

If your Sage 50 Balance Sheet is out of balance, it means that the total assets of your business do not match the sum of your liabilities and equity. This can be caused by several factors, such as incorrect account balances, missing transactions, or inaccurate data entry.

To correct this issue, start by reviewing each account on the Balance Sheet to ensure that the balances are accurate. Check for any transactions that may have been recorded incorrectly or omitted entirely. You can also verify that all accounts are properly categorized and that any outstanding items, such as unpaid invoices or bills, are properly recorded. Also, users need to know all about Sage 50 Bank Reconciliation in detail.

This error indicates an incorrect balance in the retained earnings when the fiscal year has been just closed. The accounts have a different balance on the last day of the last fiscal year and the first day of the current fiscal year, with no transaction to cause it. The accounts did not close to the retained earnings account that has been fragmented into another account. Sometimes users are unable to check Sage 50 Bank Reconciliation Discrepancy properly.

Reasons for Sage 50 Balance Sheet Out of Balance:

Sage 50 displays a warning message if you are out of balance in the Beginning Balances for General Ledger Accounts window, indicating that an equity account will be created (or updated) to reflect the difference.

This account is called Beginning Balance Equity and its type is Equity-Doesn’t Close. This account will not appear in the Beginning Balances window but on financial statements and general ledger reports.

Here are a few causes of Sage 50 balance sheet being out of balance before you start troubleshooting:

  • Incorrect Transactions:
    One possible cause for the balance sheet being out of balance in Sage 50 is the existence of wrong transactions. This may include transactions with wrong amounts, incorrect account assignments, or missing entries. Review transactions entered into the accounting software and verify their accuracy.
  • Unreconciled Accounts:
    Sage 50 had unadjusted accounts, this may have left the balance sheet out of balance. Reconcile all related accounts, such as bank accounts, credit card accounts, and other balance sheet accounts, to make sure the reported balance matches the actual balance.
  • Data Entry Errors:
    Missteps during data entry can create inconsistencies in the balance sheet. Check for typographical errors, wrong or duplicate entries. Thoroughly review the data entered into Sage 50 to identify and fix any errors.
  • Misclassified Transactions:
    If transactions are classified improperly, the balance sheet may be unbalanced. Ensure all transactions are correctly classified and assigned to the proper accounts. To maintain balance, debits, and credits must be properly allocated.
  • Inactive or Deleted Accounts:
    Inactive or deleted accounts with balances can affect the balance sheet. Check to see that all accounts with balances are active and have been assigned the correct account type.
  • Unrecorded Adjustments:
    A balance sheet that is unbalanced may be due to a failure to record necessary adjustments, such as accruals, prepayments, depreciation, or improvements. All adjustments necessary to align the reported balance with the actual financial position have been entered correctly.
  • System Issues or Bugs:
    There may be bugs or problems with the Sage 50 software that cause discrepancies in the balance sheet. You can stay up-to-date with the latest Sage software versions, patches, and updates. You may need to contact Sage 50 Support if you have any problems with your system.

Common Balancing Sheet Issues in Sage 50

Here are some common problems you may encounter when using the software.

  • All accounts were not closed in the retained earnings account.
  • There is a discrepancy in the balance of accounts in the income column.
  • The amount of the receipt rejected was split into a different account.
  • Each transaction has a different balance on the last day of the financial year and the first day of the new financial year.

How to Resolve SAGE 50 General Ledger Trial Balance or Balance Sheet out of Balance Problem

Before attempting advanced solutions, create a backup of your data, and if necessary, seek the assistance of a qualified Sage business partner, network administrator, or customer support analyst.

Below are the recommended solutions for balancing the accounts in the balance sheet. Follow the steps as mentioned.

Note: It is important to ensure the <Standard>balance sheet in Sage 50 is out of balance before running the data tests. The steps below should only be used when the <Standard>balance sheet is out of balance. The following steps will help you resolve this issue if you have recently changed the type of one of your general ledger accounts and you notice a <Standard>balance sheet that is out of balance.

Step 1. Run the Chart of Accounts/Journal Synchronization test (most common fix)

  1. Run Chart of Accounts/Journal Synchronization test.
  2. From the Help menu, choose Integrity Check.
  3. Follow the on-screen instructions to create a backup of your company file.
  4. Click on Reindex files and choose Chart from the list. Select Ok.
  5. After the test has finished, go back to Help Support Utilities Integrity check.
  6. Click on Reindex Files and choose Jrnl Rows. Then select Ok.
  7. After finishing the test, repeat the steps to perform integrity checks on the Jrnl Rows and Chart of Accounts/Journal.
  8. Create the balance sheet report to verify that the balances match.

Integrity checks can take some time, and you may be prompted repeatedly, so keep clicking on Ok to continue with the test; otherwise, the test will pause until you take further action.

Step 2. Improperly customized or damaged report

  1. Run the standard version of the Trial Balance or Balance Sheet report if you are using a customized version.
  2. A custom report that is out of balance should be deleted and recreated. Use the standard report to start, or correct the custom version.

Step 3. Verify all the Damaged Transaction Errors

  1. Click Reports -> Forms -> General Ledger
  2. Select the General Ledger report -> Click Options
  3. Change Time Frame to All -> Click OK
  4. If any error appears, close the error message, the General Ledger report, and Select a Report or Form
  5. Have all other users close Sage 50
  6. Click File -> Data Verification
  7. Leave Both tests selected -> Click Start
  8. Save the backup the tests will begin automatically when this completes
  9. Once data verification has finished, check the account balances; if still incorrect, or if the General Ledger Trial Balance and/or Balance Sheet are out of balance, continue to Section II

Step 4. Integrity Checks

It is suggested to prepare a backup of the company before performing the steps mentioned below.

  1. Close the Sage 50 program (all users)
  2. Select Tasks -> System, and then select Change Accounting Period
  3. Select period 01 -> Click OK
  4. Select Help, Customer Support, and Service, and then select Integrity Check
  5. Run Chart of Accounts/Journal Synchronization test
  6. Check the account balances the General Ledger should now be in balance if the account balance is still incorrect, proceed to the next step
  7. Access Integrity Check -> click Continue
  8. Select Journal Balances box -> click OK
  9. Access Integrity Check -> click Continue
  10. Select G/L Balances box -> click OK
  11. Check the account balances; General Ledger should now be in balance; if the account balance is still incorrect you can proceed to the next step.

Step 5. Consolidated Company is out of balance

  1. Open or Establish a subsidiary company.
  2. Go to Reports & Forms, then choose General Ledger.
  3. Scroll to the bottom of the General Ledger Trial Balance by clicking twice.
  4. Are debits equal to credits?
    • If they do not, refer to running the Chart of Accounts Journal Synchronization test
    • If they match, continue to Step 5
  5. Steps 1-4 should be repeated for all subsidiaries until all trial balances are balanced.
  6. Reconsolidate the consolidated company.
  7. Make sure the consolidated company is in balance.

How to Handle an Unbalanced Trial Balance Report?

If your Trial Balance report is out of balance in Sage 50cloud Accounts, there could be various reasons. This article explains how to identify the cause and fix the issue.

Bucket corruption

Bucket corruption is one of the reasons why a Trial Balance report may become unbalanced.

To fix bucket corruption:

  1. File > Maintenance > Recovery Tools.
  2. Take a backup > OK.
  3. Recalculate Period Values > OK > Close > No > Close.

If the trial balance is still out of balance, click Next.

Check for data corruption

  • File > Maintenance > If prompted to close other windows > Yes > Check Data.

Sage 50 Balance Sheet Reports

A balance sheet is a financial statement report that provides a summary of a company’s assets (assets), owes (liabilities), and a company’s net worth (equity) at a specific point in time. While the income statement focuses on a company’s profitability, the balance sheet provides a snapshot of the company’s resources on a given day. You can generate balance sheet reports based on your company’s financial history.

You typically print a balance sheet at the end of an accounting period, after creating essential sources and adjustments.

To access the Balance Sheet report, go to the Report Center located in the Home window. From there, select Financials and then Balance Sheet. Choose the name of the specific Balance Sheet report you want to view and click on the Display button.

Types of Balance Sheets

  • Comparative Balance Sheet
    A comparative balance sheet provides a comparison between the current accounting period and previous periods.
  • Multi-period Balance Sheet (Sage 50 Premium Accounting)
    Multi-period balance sheets provide a comparison of financial information for multiple accounting periods and typically compare month-end figures. They can compare more than two periods at a time.
  • Departmental Balance Sheet Report (Sage 50 Premium Accounting)
    The Departmental Balance Sheet shows your account balances by total and by the department for the selected period.
  • Comparative Subsidiary Balance Sheet (Sage 50 Premium Accounting)
    A comparative Assistant balance sheet is available if you have consolidated two or more companies.

The balance of Sage 50 Retained Earnings account is incorrect after closing the Fiscal Year

There are several steps to be followed to rectify the wrong balance in the Sage 50 Retained Earnings Account after the end of the financial year. First, you have to check for damaged transaction errors. To do this, go to Reports & Forms and select General Ledger Reports. Click Options, change the time limit to Everyone, and click OK. If no error occurs, proceed to Section II. If errors appear, close the report and close Sage 50 for all other users. Click File, then Data Validation, keep both tests selected and click Start. After data verification is over, check the account balance. If they’re still wrong, go to Section II.

In Section II, back up the company and close the Sage. Select Tasks, System, then Change Accounting Period and select Period 01. Click OK, and then select Help, Support Utilities, and Integrity Check. Run the Chart of Accounts/Journal Synchronization test and check the account balance. If the general ledger is still incorrect, go to the next step. To access the integrity check, click Continue, select the Journal balance box, and then click OK. Access the integrity check again, click Continue, select the G/L balance box, and then click OK. If the account balance is still incorrect, go to Section III.

In section III, manually correct the balance with a general journal entry in one of the open periods.

Help To Correct Unbalanced General Ledger SAGE 50

Adapt the balances with a General Journal Entry in one of the open periods in the related resources section.
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Call Now ☎ +1-800-983-3087 to get help for SAGE 50 General Ledger Trial Balance or Sage 50 Balance Sheet is out Balance Problem.

Frequently Asked Questions (Faqs)

How to run a trial balance in Sage 50?

To run a trial balance in Sage 50:
✅ Go to the “Reports & Forms” menu and select “Financials.”
✅ Choose “Trial Balance” from the list of available reports and then select the date range for the report.
✅ Click on the “Print” button to generate the trial balance report.

How do I fix a Sage 50 balance sheet that is out of balance?

✅ Make sure your Balance Sheet check is correct and visible
✅ Check that the correct signs are applied
✅ Ensuring we have linked to the right period
✅ Check the consistency in formulae
✅ Check all sums
✅ The delta in Balance Sheet checks
✅ Double and half the Balance Sheet check
✅ Work from right to left
✅ Opening balance testing
✅ Check changes period to period of Balance Sheet items

What happens if the Sage 50 balance sheet doesn’t balance?

If your balance sheet doesn’t balance it likely means that there is some kind of mistake. Your balance sheet is the best indicator of your business’s current and future health. If your balance sheet is chock-full of mistakes, you won’t have an accurate snapshot of your business’s financial health.

How do I reconcile a balance sheet in Sage 50?

To reconcile accounts in Sage 50, select “Tasks| Account Reconciliation…” from the Menu Bar to open the “Account Reconciliation” window. Select the ID of the account to reconcile from the “Account to Reconcile” drop-down. Then enter the statement date from the account statement into the “Statement Date” field.

What causes a balance sheet to be out of balance?

An increase in assets leads to an increase in equity and vice versa. The balance sheet will not be balanced if the equity does not show the difference between assets and liabilities. Therefore, errors in calculating equity can be another reason why your balance sheet has not been tallied.

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28 thoughts on “Sage 50 Balance Sheet Out Of Balance – Fix To Reconcile General Ledger”

  1. trial balance is out of balance,I can see the accounts causing the problem but don’t know how to fix using 2020 sage 50 quantum

  2. I was on the phone for 3 hours today with a teach and nothing was accomplished so I am sure no one will be able to help me.,my accounts are out of balance and I have transactions that have been changed and showing they were changed by “version 2.0” I ran a verify data and attempted to rebuild the company 5 times and quickbooks quits responding and doesn’t complete the rebuild. i was told i had to manually change all of the errors but there are so many errors to fix and 8648 errors taht shows cannot be fixed by rebuilding the company,yes and not i am trying to run a audit trail and it gives me an unrecoverable error and closes my screen out

  3. Balance sheet is out of balance. The member draws/contributions appear to have auto closed incorrectly. How to fix? I am using Sage 50 Accounting 2021 Do member draws usually close out automatically?

  4. my balance sheet and ledger to not match on Jan 31. Fiscal Year End. Everything is find on Jan 30 and Feb 1 using Sage 50 Premium Accounting Release 2021.1

  5. Hi, I am wondering what the process is to do a restructuring not sure if that is the right term) when my balance sheet does not balance. I have had this happen in the past.,What is happening is that there is a single sided entry. The other side of the entry is missing. It is Sage 50 I don’t know, I am a brand new hire at a public accounting firm and my coach asked me to find out what I can about this issue.

  6. When I ran the year end wizard to close 2019, the retained earnings is out of balance by the amount of the owners draw. How do I fix this. using Sage 50 Pro Accounting 2019

  7. I am just trying to figure out why everything went out of balance. I have ran a backup and I currently running a data verification

  8. the retained earnings beginning balance for a calendar year is incorrect. I am looking at the info on How to fix Sage 50 balance sheet out of balance instructions. Would these steps apply for a retained earnings error?: We just did an update last week so it s/b the latest version. I’m not in the office right now so I can’t say for certain.

  9. I have 2 equity accounts that are supposed to close to R/E and they always did until 2 days ago I noticed the balance sheet out of balance. I identified as these two accounts not having closed to R/E in 2019 and forward. (even thay had previously until 2 days ago). They are still classified correctly int he chart of accoutns as EQUITY-GETS CLOSED

  10. how to set up account for account reconciliation using citrix sage 50 2021,Bank reconciliation. Set up account 1065 for account reconciliation. Set up linked accounts as appropriate. Create new accounts if necessary., I need this to instruction to do that but I dont have account

  11. Our balance sheets are out of balance. We were going to run some steps but the first step is to make sure our time period is at 1. But it will not let us change it , using Sage 50 U.S 2022

  12. I am currently experiencing issues with my bank feeds. It looks like they stopped but I don’t have an option to connect to the bank (only disconnect). Is this something you could assist me with, please?

  13. I am using Sage 50 accounting software. My balance sheet is out of balance. I have gone through all the steps to correct the issue but am still out of balance. This has happened in the past, several years ago. I corrected it by running a step in the software where there was a onesided entry to retained earnings to bring the balance sheet into balance. Do you know that process?

  14. I’m trying to figure out how to reactivate General Ledger accounts that were made inactive with funds still on the General Ledger accounts. Due to the accounts being deactivated the balance sheet no longer balances,How can I figure out what accounts were deactivated and how can I fix this error?, Is there a report that can be run to list the deactivated accounts?,We have Sage 50 2021

  15. my issue of the balance sheet not balancing due to General ledger accounts checked as inactive. I was lead to believe that a report can be run to list the accounts that have been made inactive? I would like to know if there is a cost to the help I would receive from you ? We are using Sage 50 2021, I’m working from home and I have a person in the office to work on the computer program. Is this something I can explain to get the report for inactivated accounts? the first step to running a report for inactive are we going to run it through this chat line ,is there a way to know if there was a balance on the account when it was deactivaed ? how do you put the balance back onto the inactivated accounts?

  16. My bank statement starting is saying 10/01/2021 but my cycle runs ron the 6th to the 6th. How do I change it to the 6th? using Sage 50 2022.1

  17. I am new to this position/company and there is some cleanup work that needs to be completed and i have not used this program before. My balance sheet is out of balance and i need to fix it. Then i have error message telling me i have damaged transactions and to run data verification tests to repair them. I was chatting with someone earlier regarding the damaged transactions, but the tutorial they gave me didn’t fix the problem. it is Sage 50 premium accounting 2022

  18. I have a positive one cent discrepancy in my bank reconciliation (Sage 50) and cant figure out how to resolve it so I can post and move on. any suggestions? using Sage 50 Premium

  19. Good day. I need your assistance to balance my BS. As per my analysis, the problem of out balance came from Retained Earning Account and Capital Account. Please need your urgent response. Thank you.

  20. retained earnings @ 12/31/2019 is completely gone to zero. why?, i mean, retained earnings as of 12/31/2019 was 156,000K. but now if i look at the general ledger of retained earnings, the balance as of 01/01/2020 is zero. why?

  21. I have an out of balance on my trial balance for one company in Sage, can I do the integrity checks on it with out worrying it will affect the others? I have instructions for running the integrity check.

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