Been using manager for some time now and I only use it for basic income in/Expenses out… At tax time I only need the Profit and Loss Statement. I do get a Low Income Health care Card and when I reapplied this year for the first time ever they wanted a Balance sheet…
When I generate the balance sheet via reports I get this,
Can someone tell me how to fix this, I could only wish to have all that money on hand.
I am not sure it is worth the effort for your basic requirements but you should firstly study some tutorials in basic bookkeeping then you can start by reconciling the bank accounts and clearing the suspense account, see the following guides:
https://www.manager.io/guides/7106
https://www.manager.io/guides/9235
Carrying things a little further, @circus07, a balance sheet contains only perpetual accounts. That means their current balances trace back to when you first started using the accounting system. They require correct starting balances, and every transaction affecting those accounts must have been properly entered. Since you were not concerned about such things previously, it seems very doubtful you will have entered the necessary transactions all that while.
When dealing with personal qualification for government programs, applying for loans, and so forth, the information needed is frequently much different from what you would be entering for a business. Often, you only need a basic list of assets (such as home, car, any investments, and bank balance) and a summary of liabilities (mortgage, personal loans). In fact, relevant authorities often provide an exact list of information required, sometimes with specific exclusions (due to regulations) of exempt items that would normally be included in the balance sheet of a business.
In the situation you describe, they are looking to exclude someone—as an example—who has no reported wage income, but inherited and lives off lucrative investments.
To answer your question you need to address the contents of the “Suspense” account.
Having that account displayed indicates that there are entry errors within transactions. At a guess, these are expense transactions which don’t have a Bank or Cash allocated at the “Account” field:
Currently the Balance Sheet is only listing money assets, you may need to list other assets.
