TurboTax Business Incorporated 2019, and Quickbooks Desktop 2020 Pro.
Problem:
S100 "Total assets" not equal to "Total liabilities and equality" due to last year's Retained Earning was not counted in by TurboTax.
More details:
TurboTax input data from QuickBooks.
The Quickbooks's TrialBalance and BalanceSheet are balanced.
The GIFI table (generated by TurboTax during input from QuickBooks) has a Retained Earning (GIFI 3680) of 178,678.45 from year 2018. This 178,678.45 does not show on S100. Instead it show 22,932 (GIFI 3600).
On S100, "Total assets" = 163,774. "Total liabilities and equality"=342,455. These 2 numbers should be equal. But there is a difference of 178,678 (which is the GIFI 3680 mentioned above) plus a common shares of value 1.00.
How do I make the S100 balanced?
You may have already figured this out, but this also happened to me.
I had to manually place the total of the prior years R/E line 3849, into the current years information on line 3660.
The gifi codes automatically placed my current years Net income/loss onto line 3680.
This gave me the correct total R/E line 3849 for the current year.
Common shares value (3500) would be shown in the Equity portion of S100. Added to 3600 to equal 3620.
Your total liabilities and equity (3640) should be equal to your total assets (2599).
Hopefully this helps. I am not an accountant, just had the same problem with my own books. So this is not legal advice, just hopefully a helpful insight .