Changing classification of Bank Account

qls-tania

We have a bank account which is set up as a Liability in MYOB (2-1100) with a balance e.g. -50,000 which is now actual cash on hand.

The bank account is no longer a Finance account and it is purely just income 

I would like to move it from Liabilities to Cash on Hand but not sure how to achieve this via a Journal.

Tracey_H

Hi @qls-tania 

 

Thanks for your post. From an AccountRight perspective, if you are wanting to move an amount from one account to another you could record a general journal. If you are not sure about the applicable accounts and tax codes I would recommend checking with your accountant.

 

Please let me know if you need further help.

 

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