Author: joshuabassi

Step-by-Step Guide to Matching the Balance Sheet in QuickBooks Desktop 1. Prepare for the Process Before diving into QuickBooks Desktop, ensure you have the following: A copy of your last year’s tax return for comparison. Accurate financial data, including bank statements and loan documents. An understanding of S-Corp-specific financial reporting, such as distributions and retained earnings. 2. Review the Chart of Accounts A well-organized Chart of Accounts in QuickBooks Desktop is essential for a balanced balance sheet. Verify Account Categories: Ensure that all accounts are classified correctly as assets, liabilities, or equity. Check for Duplicates: Merge or delete duplicate accounts…