Equipment Asset Value

Problem

Goldenseal accounting software is not including asset value of Equipment or Real Estate accounts on the Balance Sheet, or the values are too low.

Diagnosis

They're doing a balance sheet in Goldenseal small business accounting software. Equipment value is too low or zero.

We calculate the depreciated value as of the report start date. If they don't have a depreciation method, there isn't a problem, but if the equpment was bought AFTER the report start date, the asset value is zero because the equipment didn't exist then.

Solution

The solution depends on software version:

VERSION 2.9

They need to change the date range of the balance sheet report so it is Today.
1. Choose Custom Layouts from the Options menu, and choose Reports from the submenu.
2. Enter Financials into the Area popup at upper left, enter Balance Sheet into the Report popup.
3. Choose Report Display from the Options menu.
4. Enter Today into the Date Range popup. If they want to do bal sheet for other dates, turn on User Can Change.
5. Click OK.

VERSION 2.8 and earlier

They need to change the date range of the balance sheet report so it is Today. If the date range is already editable, just change it in the report. If not:
1. Choose Custom Layouts from the Options menu, and choose Reports from the submenu.
2. Enter Financials into the Area popup at upper left, enter Balance Sheet into the Report popup.
3. Choose Report Display from the Options menu, and choose Date Range in the submenu.
4. Close the layout and save changes.
5. Now when they open the report the date range will be editable, and they can set it to Today.

Comments

This problem is finally fixed completely in 3.0 (we added the ability to pre-set the report date in 2.9 but forgot to change the balance sheet layout).

Entered 9/27/04 by Dennis. Updated 10/22/2010.