Cash Basis Balance Sheet

We're a BPO practice and some of the entities for which we’re providing services are cash basis/income tax basis. The income statement in NetSuite works just fine with the cash basis option checked under the accounting setup. However, the balance sheet doesn’t present in cash basis format in NetSuite and therefore never ties to the income statement. This has been an annoyance, but something we’ve largely worked around until now. We have realized that the biggest issue is and will continue to be retained earnings. This is only coming to light now that we’ve closed a year and have moved