Problem

In Goldenseal accounting software versions 4.6 and earlier, the Total Equity amount on the Balance Sheet report can be incorrect in some cases.

Caught By

User bug report.

Workaround

To fix this error, follow these steps:

1. Choose Calculations from the Options menu, and choose Custom from the submenu.
2. Select the Net Equity item, and click the Edit button.
3. In the First Source popup field, choose Summation.
4. In the First Calculator clairvoyant field, choose Total Assets.
5. In the Second Source popup field, choose Summation.
6. In the Second Calculator clairvoyant field, choose Total Liabilities.
7. Click OK.

Solution

Starter Files have the correct calculation, starting approximately 10/15/2011. Users who used a Starter File prior to the 4.7 update will need to follow the steps above, to correct this problem (since it is caused by incorrect data, rather than incorrect programming code).

Technical Details

Programmer note-- no code changed. This is just a data fix in the Starter Files and Sample Company File.