Balance Sheet and/or Trial Balance reports are out of balance
KB Article #:
83703
Summary:
Balance Sheet and/or Trial Balance reports are out of balance
Description:

On the Balance Sheet report, the Total Assets do not match the Total Liabilities and Equity, or the Trial Balance does not net to 0.

Resolution: 
There are three common causes for the balance sheet report to show out of balance. 
 
Cause 1:
One runs Close Fiscal Year and later creates new entries with the accounting date in the closed year. In this case, one will need to re-close the fiscal year:
 
Resolution 1:
  1. In Setup > Company > Preferences,
  2. Change the current year to the year needed to re-close.
    Note: If a Multi-Company is being used:
    1. Go to Setup > Company > Companies to change the current year of the company that is out of balance
  3. Go to Company > Close Fiscal Year.
    • It should display Re-closing entries in blue text.
  4. Click Save.
  5. Rerun the balance sheet report
  6. Repeat these steps if using a multi-company.
Cause 2:
One overrides the fiscal year dates to non-month-end dates.
 
Resolution 2:
  • If this is the case, standard financial reports will not recognize this.
    • For a fee, Deltek can create custom reports.
    • Please log a case online to request a quote. 
Cause 3:
The retained earnings account is set up as Equity
 
Resolution 3:
  1. From Setup > Financial > Chart of Accounts 
  2. Check if the retained earnings account is set up as Equity account type
    • If so, change the account type from equity to retained earnings
  3. Refresh the trial balance or Balance Sheet
 
Details  
 
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