My TurboTax balance sheet is out of balance and I feel like I'm missing something. I've put all payroll checks, payroll taxes, sales tax, and other tax REPORTED in 2018 but not paid until 2019 into the liabilities column, and I put sales reported in 2018 but not deposited until 2019 into the total cash in assets, but my balance is off. I'm not sure I've done the correct thing with sales reported in 2017 but deposited in 2018 - I did not list it anywhere except for adding to the assets column for last year. Correct? We're modified cash basis and have no accounts receivable/payable so this is not something I'm super familiar with. Just trying to get numbers reported to tax agencies to match up with numbers in the bank and not sure what I missed. I've got all our assets and depreciation in assets, and our outstanding loan balance in liabilities. Gonna go through and double check expenses and the retained earnings calced by TurboTax but I want to make sure I'm doing the correct thing with the tax & payroll liablities carried over from 2017 and paid off in 2018 by ignoring them since they were zeroed out/paid off. Same with undeposited funds from 2017 deposited in 2018. It doesn't make sense to do anything else with them, to me, but I may not be understanding tax basis balance sheets correctly...
