The general ledger appears to be one account of deposits and disbursements . Has Stessa
been set up poorly or is that the way the software is written. LLCs with more than one member
need a balance sheet for tax prep. purposes. I am having to create excel worksheets to
get a balance sheet. Being an accountant I have more confidence in reports when I can see
they are produced from double entry accounting. Any advice in this would be appreciated.
@rbyrne there is a balance sheet report for Pro members. Mine is balanced as I go out of my way to perform the nitty gritty transactions such as transfers to/from escrow, etc. I imagine for the everyday user, it does not balance or the equity calculation is inaccurate and assumed to be ‘the remainder’. The GL report to me is just a master download of all transactions versus a true DE GL.
Hope that helps
-Tom