TT is not adding my assets and liabilities correctly and I cannot override the field. What do I do? Corporate taxes are due December 31.

The prior year figures added correctly but current year's do not. It's bizarre and I have tried everything humanly possible to fix it.

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1 Best answer

New Member

Oct 30, 2019 6:08:05 AM

If the shareholder owes the company, that is not a liability...it is an asset. Create an asset account "Due from Shareholder."

New Member

Oct 30, 2019 6:08:02 AM

Liabilities is a negative amount as shareholder owes company as opposed to Due To SH.

New Member

Oct 30, 2019 6:08:03 AM

I did a test. I made Liabilities "0" so total Equity should be the same as total Assets. It's still wrong! TT is broken.

New Member

Oct 30, 2019 6:08:05 AM

If the shareholder owes the company, that is not a liability...it is an asset. Create an asset account "Due from Shareholder."