Balance Sheet doesn't balance

Evan2

My balance sheet doesn't balance.  I have no Historical Balances and have tried entering an opening balance and then removing.

Sean_DC

Hi @Evan2 

 

Thank you for your post. Welcome to the MYOB Community Forum.

 

Kindly try running the report on an Accrual basis. The Profit and Loss report will show a Net Profit (or Loss)  amount, this will match the Current Year Earnings on the Balance sheet only if it's on an Accrual basis. So if you are running on a Cash basis for your Profit and Loss then the Current Year Earnings and Net Profit(or Loss) may not balance. 

You can also  try to do these steps to see if it will fix the out-of-balance:
 

1. Backup the client 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.
    

If it did not fix the issue, I'll be glad to assist you further by sending me a private message with the following:

 

• Serial Number
• Company File ID (Help >> About MYOB AccountRight)
• Account Name (Company Name)
• Your full name and email address

 

 

Please feel free to post again. I'm happy to assist further.

 

If my response has answered your enquiry please click "Accept as Solution" to assist other users in finding this information.