If your Sage 50 Balance Sheet is out of balance, it typically means that total assets do not equal the sum of liabilities and equity. This issue can arise due to data corruption, unposted transactions, incorrect account balances, or misclassified accounts.
Perform Integrity Check
- Perform a backup of your Sage 50 Company. View How
- Close Sage 50 on all other workstations.
- Navigate to Tasks > System > Change Accounting Period.
- Select Period 01 and click OK.
- Verify that you performed the backup in step 1. Always ensure you have a complete and verified backup before making any changes to your Sage 50 company data. This safeguards your records and allows for recovery in case of unexpected issues. Don’t skip this crucial step—it can save you a lot of time and hassle later! 😊
- Go to Help > Customer Support and Service > Integrity Check.
- Run Chart of Accounts/Journal Synchronization test
Check the Retained Earnings Balance
- Ensure all accounts close properly to retained earnings at the end of the last fiscal year.
- Review discrepancies between the last day of the previous fiscal year and the first day of the new fiscal year.
If the issue persists, it is possible that there are damaged transactions in closed years. In such cases, you may need to submit your data for evaluation through our Sage 50 Data Recovery Service to restore integrity and resolve the discrepancies.