General Ledger out of balance

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Super Partner JenPerram
458 Posts
Super Partner
Solved: Go to Solution

General Ledger out of balance

I am not sure if this is an myob release problem however this is my problem.  I am using 2016.2 and  I have reviewed a clients general ledger report (both detailed and summary) and note that the debits and credits do not match.  It took a little while to identify the problem however I have narrowed it back to current year earnings from the prior year not being rolled over correctly in the file.  I have been advised that his is a known issue that is being worked on and there is no fix for the problem at the moment.  Has any one else experienced this problem.   

Jenny Perram
Bookkeeping Express Management
Mobile: 0408 25 1234
Registered BAS Agent
MYOB Certified Consultant
3 REPLIES
MYOB Moderator Steven_M
20,223 Posts
MYOB Moderator
New Zealand

Re: General Ledger out of balance

Hi @JenPerram

 

We are aware that the Current Year Earnings account does not showing in the General Ledger reports. This does mean that an out of balance can show on the General Ledger based reports if you are looking at the Grand Total. We have passed this onto the program development team for closer investigation for a future update. This is just a display error to do with the report, the actual transactions and amounts are correct as per the Balance Sheet.

 

The bit I am concern about is "current year earnings from the prior year not being rolled over correctly in the file". Occasionally this can happen and does involve the Balance Sheet being out of balance. If the Balance Sheet is out of Balance we are happy to arrange for the file to come in for repair by the team.  

So I guess I am asking is the Balance Sheet balanced in that company file? If that is it is you have been just affected by that display error in the General Ledger Reports. If it doesn't then do let us know so we can get that possibly repaired for you.


Kind Regards,
Steven
MYOB Client Support
Super Partner JenPerram
458 Posts
Super Partner

Re: General Ledger out of balance

Thanks Steven.  My Balance Sheet does balance and it is just the report as you mentioned that is not reporting correctly and the amount of the discrepancy was the retained earnings from the prior year.  I accept this is a problem that is being looked into however I have wasted time not knowing this was an issue and regardless of the balance sheet balancing I then started to look at why one report said one thing and the next one something else.  Please get this fixed.  

Jenny Perram
Bookkeeping Express Management
Mobile: 0408 25 1234
Registered BAS Agent
MYOB Certified Consultant
MYOB Moderator Steven_M
20,223 Posts
MYOB Moderator
New Zealand
Accepted Solution Solved Solution

Re: General Ledger out of balance

Hi @JenPerram

 

Great to hear that the Balance Sheet is doesn't have an out of balance as that does involved an investigation and repair of the file.

As mentioned previously this is something that we have passed onto the program development team for future updates. We also have an idea in regards about it - Current Earnings not showing in General Ledger Summary Report. I've shared your comments with the team.


Kind Regards,
Steven
MYOB Client Support
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