What to do when a balance sheet doesn't balance?

Answer 1

Check for the two most common errors:Take the difference between the debits and credits and divide by half. If that number is one of the numbers in the entry, it may be posted on the wrong side of the entry. For example, if there should be a debit for $27 but it was posted as a credit of $27, the difference would be $54.If the difference between the debits and credits can be exactly divided by 9, you may have a transposition. For example, if the entry should have been $329 but was posted as $392, the difference is $63 which can be divided by 9.Then, Look for a missing entry in the amount of the difference between the debits and credits.Beyond that, you need to recalculate each number in the entry.

Answer 2

Check for the two most common errors:Take the difference between the debits and credits and divide by half. If that number is one of the numbers in the entry, it may be posted on the wrong side of the entry. For example, if there should be a debit for $27 but it was posted as a credit of $27, the difference would be $54.If the difference between the debits and credits can be exactly divided by 9, you may have a transposition. For example, if the entry should have been $329 but was posted as $392, the difference is $63 which can be divided by 9.Then, Look for a missing entry in the amount of the difference between the debits and credits.Beyond that, you need to recalculate each number in the entry.

For the time being if error is not found then difference can be charged to suspense account to balance out the transaction.

Answer 3

For the time being if error is not found then difference can be charged to suspense account to balance out the transaction.

Answer 4

A balance sheet will always balance.