I own a personal service S corp, the owner and only employee, for electronic engineering consulting. My income and assets for 2019 have apparently pushed me into requiring a balance sheet for my corporate return, and it is not balancing. I have no accounting background and the terms I see are complete gobbledegook to me.
What is the simplest way to get my balance sheet to balance? My accounting method is extremely simple: I just have a checking account. The account balance at the beginning and end of the year aren't identical because cash is flowing in and out of it, but this seems to throw my balance sheet off. What can I do to reconcile this?
