WKins2
Expert Alumni

Business & farm

First, if you filed a return last year, make sure your ending balances match the beginning balances for the beginning of 2019. If they do not, this is where your issue will lie ( well at least one of them if the difference is equal to what you are missing).

 

If they do match, you need to look at every bank statement, credit card statement and any loan statements to make sure each transaction (deposits and debits) match what you have in your accounting software. Make sure the loan payments are split between principal and interest, and partner contributions are marked as that and not income and any partners withdraws are marked as that and not an expense. 

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"