QB and Taxes

Not sure what is going on, but I am having a problem with my Form 1065,
page 5 cash matching up to my books on Quickbooks. All the numbers match up
except for cash balance and total liabilities and capital. My capital
balance is nowhere near the Form 1065 balance. I am using tax basis
accounting. The 1065 shows $1256 excess cash and $1196 excess equity. Any
ideas on what might be going on and how to correct it while reporting
correct numbers? Everything else is right on, within 1-2 for rounding; i.e.
assets, revenue, expenses all match. I would really like to get this back
on track for next year. BTW, per IRS rules this page is not necessary, but
I would like to track down the problem.
Mike D.
Reply to
Michael Dobony
Ok, been thinking about this for a while. If I add total assets and depreciation and subtract retained earnings I should get the total investment minus distributions. Is this correct?
Ran the numbers and discovered a discrepancy in the Capital Contributions for one of the years, along with a misappropriated $50 showing up as a liability that does not exist (wrong posting date for payments). Will correct for taxes this year with cash distributions to match actual. Oh the joys of putting 4 years of back accounting into a proper accounting program!
Reply to
Michael Dobony

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