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Liabilities Summary appears above Assets Summary on Net Worth Graph

Posted on 2014-12-08
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Last Modified: 2015-11-06
In QuickBooks when I view my “Net Worth Graph” over the years it has always displayed a bar chart with a green coloured bar above the 0 line depicting “Assets Summary”  and a Maroon coloured bar below the 0 line depicting “Liabilities Summary”, then in the centre there would be line graph depicting “Net Worth”.

However, today I noticed that the maroon “Liabilities Summary” is appearing on top of the green “Assets Summary” . I.E., both are above the 0 line, first the “Assets Summary”  and then directly on top of that the “Liabilities Summary” which should be a cost and therefore below the 0 line.

I have attached an image to help explain, the first two months are ok, the last two months you will see the Liabilities on top of the Assets.

Any help?

Please.

Thank you,
Robbie.
NetworthGraphError.png
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Question by:IP4IT Staff
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9 Comments
 
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Accepted Solution

by:
Katie Pierce earned 1000 total points
ID: 40487930
Do you have any negative liabilities that could have sent your total liabilities into the negative?  This would essentially send the bar to the other side of the axis.

Drill down into your liability lines on your balance sheet and see what could be causing this.
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Assisted Solution

by:John Hurst
John Hurst earned 1000 total points
ID: 40487970
The chart looks correct and now your liabilities exceed your assets. Open reports, select the Balance Sheet and print it out. I am sure you will find that liabilities exceed assets.
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Author Comment

by:IP4IT Staff
ID: 40494716
Thanks Katie and John.

Now I just need a little bit of time to look into your suggestions.

I will report back.

Thank you very much.
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LVL 99

Expert Comment

by:John Hurst
ID: 40494767
Keep in mind when you review that losses are liabilities and income is an asset that reduces liabilities.
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Author Comment

by:IP4IT Staff
ID: 40505833
Thank you.  With end of year business I didn't get to look at this yet. I would like to leave the question open until I get a chance to work on this next week.
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Expert Comment

by:Katie Pierce
ID: 40944224
robbiebreslin circling back, did you ever resolve this?
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Author Comment

by:IP4IT Staff
ID: 40968741
Hi Katie Pierce+

To be honest I never got backt it. Its something that I see happening the odd time even thought our bank account is in a healthy status at that time .I will look into  
it and get back to you.

Thanks again
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LVL 99

Expert Comment

by:John Hurst
ID: 40968808
We both gave you good information so please close the question because it started last year.
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