Help with Lacerte Balance Sheet?

[FrostedWolf]

I am having difficulty with the balance sheet and retained earnings.  Is there someone I can

actually talk to to assist in this?  

[IRonMaN]

As long as you are working from a properly balanced balance sheet and income statement, it should be a piece of cake.  If you are putting pieces together like a jigsaw puzzle, you are going to have problems.

[FrostedWolf]

I have a balance sheet and income statement.   I am having trouble with the flow of information  and understanding a question that is being posed.   Is there a way to actually talk to someone about this?

[IRonMaN]

 "Is there a way to actually talk to someone about this?"

This forum is open to the world so nobody is going to be lusting to be posting their phone number here.  I don't do Lacerte, but maybe if you post some more details as to what exactly you have going on, someone might be able to help.

[qbteachmt]

"Is there a way to actually talk to someone about this?"

Not here; this is a text-based discussion forum of peer users.

"I am having trouble with the flow of information"

What, specifically?

"and understanding a question that is being posed."

What question? By whom; the program?

[FrostedWolf]

One of the partners of a S-Corp had return reviewed.  They have question.  First time I have client with over 1 million in assets. 

Question:

Retained earnings (Schedule L line 24) does not match schedule M2 line 8

[qbteachmt]

Try these:

https://proconnect.intuit.com/community/balance-sheet/help/balancing-an-out-of-balance-sheet-on-form...

https://proconnect.intuit.com/community/s-corporation/help/ending-balance-sheet-is-out-of-balance-on...

https://proconnect.intuit.com/community/s-corporation/help/calculating-ending-retained-earnings-for-...

https://proconnect.intuit.com/community/partnership/help/entering-and-calculating-the-schedule-m-1-i...

https://proconnect.intuit.com/community/balance-sheet/help/tax-basis-capital-account-reporting/00/12...

[PhoebeRoberts]

"Triple A doesn't always match retained earnings, for a variety of reasons, most common of which is that some transactions can reduce retained earnings below zero, but can't reduce AAA below zero."

You could go back to the inception of the corporation and figure out when and why each component of the discrepancy arose, but the cost of that should be borne by the curious shareholder.

Also, it doesn't make a bit of difference for an S-corp that's always been an S-corp.