- Open Screen 24, Balance Sheet.
- Remove any entries for ending accumulated depreciation, accumulated amortization, and accumulated depletion.
- Select the Forms tab.
- In the Form list, select Worksheets.
- Make sure the program's calculation of ending accumulated depreciation, accumulated amortization, and accumulated depletion matches the trial balance amounts.
- If the accumulated depreciation account is correct, open Screen 24, Balance Sheet.
- Remove any entries for ending retained earnings or capital account.
- Review any M-1 adjustments. The program calculates Net Income Per Books by starting with tax return income and then adding or subtracting M-1 adjustments.
- Make sure the Net Income Per Books matches the trial balance amount.
- Select the Forms tab.
- In the Form list, select Worksheets.
- Make sure the program’s calculation of ending retained earnings or capital account matches the trial balance amount.
Note: The program does not calculate most of the balance sheet accounts. If discrepancies exist in any of these accounts, correct the amounts on the appropriate input line in the Balance Sheet input screen