The total Net Change between the Cash Account Beginning and Ending balances at the top of the report should be equal to the Net Income (Loss) at the bottom of the report.
- In simple terms, the difference between the assets (or cash) at the beginning of the tax period and the assets (or cash) at the end of the tax period is the same as the difference between Total Income and Total Expenses.
- The most common reason for an Income/Expense form imbalance is cash transactions that have occurred during the tax period in an external bank account that have not been recorded on Vault.
