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Sage 50 software chalks out different features to aid in the easy and smooth operation of accounts for its users. While the software reduces the time and energy in dealing with finances, errors and other small problems are not completely unknown. All user need know all about Sage 50 Bank Reconciliation in details. The ‘Balance Sheet Out of Balance’ is a problem that crops up at times when:
- The retained earnings have an incorrect balance after the fiscal year has closed
- The final balances differ between the accounts of the last day of the last fiscal year and the first day of the current fiscal year, although no transaction is made
In such cases, despite the presence of the Sage 50 Reconciliation Discrepancy, users might fail to encounter the problem that has resulted in the error.
Balancing the Account in the Balance Sheet:
To balance the account and bring an end to this issue, try the below troubleshooting steps:
I. Check the Damaged Transaction Errors:
To check the damaged transactions –
- Select Reports and click on Forms
- Now, select General Ledger and Options
- Browse to change the time frame to All and click OK
- In case you encounter the error at this stage, close down the General Ledger Report, and select ‘Report or form’
- Close Sage 50 from all other user windows/systems
- Now, go to File >Data Verification and click Start for both backup tests
- When data verification is completed, check the ACCOUNT BALANCES
- If the balances are still not correct, proceed to the next step
II. Checking Integrity
Do you have a backup of Company in Sage 50 accounts? If not, take a backup before going on to check the integrity for safety, since users sometimes lose on essential data while attempting to check the integrity on Sage 50 software.
- Close Sage 50 from all the users and
- Click on Tasks> System. Now, when the list appears, select ‘Change Accounting Period’
- Here, click on Period 01 and click OK
- Click on the HELP and Customer Support and Service and select integrity Check from the list
- When the prompt appears, Run the ‘Chart of Accounts or Journal Synchronization’ test
- Now, check the account balance to see if the general ledger balances match. However, if still, the balances are not matching, go to the next series of steps.
- Go to Integrity Checks and click on Continue
- Now, here, select the G/L Balances and click Ok
- Now, check the account balances again. Does it match with the general ledger balance? If not, attempt a manual correction.
III. Manual correction
The balance sheet and the general ledger can be corrected manually also. However, remember to check carefully before attempting the manual correction, since it might affect the overall balance, if not done properly.
Alternatively, call up our Sage Customer technical support experts. With the able guidance from the Sage experts, you will be able to understand where the problem is and address the matter accordingly.
Call Now ✆+1-800-796-0471 to get help for SAGE 50 General Ledger Trial Balance or Balance Sheet is out of balance problem.