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Enter historical transactions prior to conversion date

aaromat

HI there

I have opened a new company in MYOB with a start date of 1 July 2020 but need to enter opening balances and historical transactions for debtors and creditors that relate to the prior financial year. When I go to enter these transactions and date them prior to 1 July 2020, I get an error message - You may not enter transactions before your conversion date.

Is there a work around as I believe I can't change the start date of the company ? Although to be honest, I'm not sure how many companies open their accounts books prior to the start date of what they need and it seems to be that a lot of people have this problem so is there an easy work around ?

Many thanks

Linda

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Accepted answers

Steven_M

Hi @aaromat

Historical invoices and purchases (outstanding sales or purchases prior to the conversation date) can be entered in via Setup>>Balances>>Customer Balances or Supplier Balances. This method will allow for the creation of pre-conversion sales/purchases and will appear in the Recieve Payments/Pay Bills window ready for payment but will not impact the accounts.

Our Help Articles: Entering customer opening balances and historical sales & Entering supplier opening balances and historical purchases have more information on that process.

Do let us know how you get on and if you require further assistance.

All comments

aaromat

Thank you Steven - that is exactly the info that I needed.

Have the best day !

Linda

Steven_M

Hi @aaromat

Our Help Articles: Entering customer opening balances and historical sales & Entering supplier opening balances and historical purchases have more information on that process.

Do let us know how you get on and if you require further assistance.

aaromat

I forgot to mention - there are only 8 entries that need to be processed and I have done two payrolls and entered July creditors / debtors in so re-processing is not really an option.