If you receive the error message "Out of Balance Error - The exported data does not balance. Check the report options or ensure the file is in balance" this means that your balance sheet debits do not equal your balance sheet credits. This means that you are using an account that is not in the KWRI approved Chart of Accounts.
To access the KWRI approved Chart of Accounts, click the link below, login with your KW login credentials if needed, then go to the Materials tab, and you will see links to the US and Canada Chart of Accounts (COA): KWConnect > Resources > Leadership Hub > MCA Resources > Market Center Operations - click on the US or Canada Chart of Accounts link in the lefthand menu. This will take you to the page on KWConnect for KW Financial Statement (KWFS) Guide for MCAs: Resource Materials; click on the Materials tab and the open the file you need.
What you will need to find the issue:
- Access the Online KWFS financials at mykw > Technology menu > KW Financial Statement
To find the account, follow these steps:
1. Calculate the amount you are out of balance by. Subtract the Total Assets from the Total Liabilities and Equity. Note this amount.
2. Compare the KWFS Current Period Profit (Loss) amount with the YTD Net Profit (Loss) on the Income Statement
- If they match, the error can be found on the Balance Sheet.
- If they don't match, the error can be found on the Income Statement
3. Focusing on the financial statements from the above step, compare your accounts from accountedge to the Chart of Accounts looking for any accounts you are using that are not in the approved chart of accounts. Look for an account with the amount calculated above as the balance.