Balance Sheet imbalance

stevejp

My Balance Sheet does not balance, and I have seen other posts whereby they required a repair to be done. The Net Assets does not equal the Total Equity, and even though I have identified the transaction, I don't know how it could have happened. It appears that it is a MYOB error. The GL Balance is different to the P&L amount for a particular Expense Account.  How can this be rectified?

Komal_S

Hi @stevejp 

 

If you have a historical balancing amount in your balance sheet, check 

If the Total Equity - Net Assets = Historical Balancing. If this is the case, we can do the following steps to fix the out of balance.

 

1. Backup your file. 
2. Go to the Setup Menu > Balances > Account Opening Balances
3. Select an account with a $0 opening balance (note this account)
4. Enter a $1 opening balance for this account and click ok
5. Go back to Setup Menu > Balances > Account Opening Balances and remove the $1 balance to make it $0
6. Click Ok
7. Run your balance sheet again and it should now balance.

The above steps refresh the historical balance account and the balance sheet will balance.

 

If the out of balance is not the amount of the historical balance account, send us the screenshot of your balance sheet and your product serial number by a Private Message as your file might need repair from our end.