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Fixing my Trial Balance

MamdouhMamdouh Member Posts: 2

Hi Everyone,
I have a quick question, please!

  • My Sales from Aug'1st to Aug'31st, 2019 = 103,450.45 + 5% VAT

  • Account "Sales" under "Account Transactions" (General Ledger) shows the above-
    mentioned figure correctly.

  • However, the Account Balances Report shows my Sales for the same period =
    106,484.95 +5% VAT. Which is incorrect. I don't see any valid reason for having that increase of 3034.5 in Sales and it doesn't show anywhere in the General Ledger.

  • Accordingly, the Trial Balance Report is imbalanced! It shows a difference between Debit and Credit equals 3034.5 + 5% VAT = 3,186.22

Could you please help me to solve this issue and fix my trial balance?

Best Regards,
Mamdouh

in Accounting Technical Support

Comments

  • AlexLAlexL Member Posts: 2,869 ✭✭✭

    Hi @Mamdouh , thanks for reaching out about this. I've taken a look on the back end at how your data is being displayed, and I've made a minor tweak. Let me know if you're seeing any changes, and if you are still having issues, don't hesitate to reach back out!

  • MamdouhMamdouh Member Posts: 2

    Hi Alex,
    Thank you so much :)
    The problem has been solved and my reports are now balanced. I appreciate it!
    Would you please advise what was the problem? Was it something wrong from my side, which i need to avoid in the future?

  • AlexLAlexL Member Posts: 2,869 ✭✭✭

    Hi @Mamdouh . Nothing wrong with your side at all, it was an error on ours. You're completely fine to go on doing what you've done in the past :smile:

  • Renov8_UnlimitedRenov8_Unlimited Member Posts: 1

    I have a issue and not sure how to fix.

    had to submit trial balance to my Accountant, trial balance is doubling the income actually received and I think the issue is with when you send receipt for an invoice. it include it as income and shouldn't.

    please help urgently

  • ConnorMConnorM Member Posts: 1,229 ✭✭✭

    Hey @Renov8_Unlimited, can you give us some more context around what you're seeing with regards to that trial balance? Screenshots would be fantastic if you could provide them!

  • pkdrive5pkdrive5 Member Posts: 3

    It seems I am having the same problem... by running multiple trial balances I have narrowed the balancing issue to 8/9/19 and an amount of $13.16.
    Assets not matching Liabilities/Equity from that date onward.

    Have tried deleting and recreating a a credit card expense transaction on that date without successful result.

    I have seen a couple cases where a "backend refresh" can help otherwise any advise on what the issue may be?
    Thanks,
    Anthony

  • Kristian_GKristian_G Member Posts: 56 admin

    Hi @pkdrive5, good hunch! I just had a look at our accounting back end and it was certainly due for a refresh. I've initiated that from my end for you now. It can sometimes take about 24hrs or so to finish the refresh (often times much less time than that). If you're finding that your reports are still off after that point, just let us know. Thanks Anthony!

  • pkdrive5pkdrive5 Member Posts: 3

    That did resolve the issue... I don't hope to see that bug again...
    Thanks!

  • AldoAldo Member Posts: 7

    I just posted at accounting technical support with a very similar problem. My trial balance is off because my cash account in the balance sheet is showing 6 more dollars than my cash flow ending balance, and I honestly have gone mad crazy trying to figure out what's wrong. I'm hoping its a bug of some kind because up to yesterday my balance sheet was always balanced. The odd thing is that Wave doesn't allow you to post unbalanced transactions. So it doesn't make sense, the balance sheet shouldn't be showing me those 6 extra dollars. It unbalances the equation with liabilities and equity, but the ending cash flow is correctly displayed though. Even when I click cash on hand it sends me to the cash transactions that also show the same cash flow ending balance of 6 dollars less than cash on hand in the balance sheet. The ending cash flow is the correct amount of cash I currently have by the way.

  • ConnorMConnorM Member Posts: 1,229 ✭✭✭

    Hey @Aldo! I've responded to that other post you've made with a solution for us :) Let's chat over there.

  • pkdrive5pkdrive5 Member Posts: 3

    I am having the same problem again... this time the issue seems to be with a Nov 3. 2020 transaction for $37.50.

    Assets not matching Liabilities/Equity from that date onward.

    Have tried deleting and recreating a a credit card expense transaction on that date without successful result.

    Perhaps I need another "backend refresh?
    Thanks,
    Anthony

  • JulianPJulianP Member Posts: 1,002 ✭✭✭

    Hey @pkdrive5 !

    It appears that some of your Wave pages might not be communicating with each other, and this is why you are seeing discrepancies in the numbers between different pages.

    I have triggered an accounting data fix on your account, and it showed that your account was in need of this! The reports and accounts should be properly connected within 15-30 minutes, depending on how much data there was to fix.

    If, after that time the accounts are still off, please let me know and we can go from there. :smile:

  • AdewaleAdewale Member Posts: 3

    Hi Team!

    I seem to be having an issue with my records, this time the issue appears to be with a Feb. 24 2021 transaction for ₦352,803.56.

    Assets not matching Liabilities/Equity as a result.

    Could you assist with a backend solution?

    Thank you,

  • KiahDKiahD Administrator Posts: 267 admin

    Hey @Adewale,

    I've triggered a fix on the backend, which should resolve the mismatch you're seeing in the next 15-30 minutes, depending on the amount of data to fix :smile:

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