Unbalanced trial balances

Question

I have three entities with unbalanced trial balances, following financial year end rollover.

Tried to call support, but due to unprecedented volumes of calls, they can't answer the call.

Have sent through a support request, but no answer yet.

Am being audited, and can't explain why my books don't balance.  Does anyone know how I can get this fixed?

Yvette

260611 unbalanced TB.jpg

YML · Answer

Thanks Genreve

I have rolled over the FYE, but the historic data does not balancer.  Balances going forward are fine.  Comparatives are out.  Support are not answering priority phone line, are not responding to support tickets through MYOB and are not responding to emails.  Clearly something has gone wrong in my files (3 companies) but it's not something I can fix.  I'm in the middle of an audit, but can't even explain why my data does not balance or when it's going to be fixed.

Genreve_S · Answer

Hi @YML,

This does look like it could be a false out of balance, especially if it only started after the FY rollover.

These reports are designed to calculate correctly for the file’s current financial year and the next one. So if you run the Trial Balance for a later year before the file has been rolled forward, it can show as out of balance even though the transactions themselves are fine.

I’d first check you’re running the report for the file’s current or next financial year. If that all looks right, make a backup first, then roll the financial year forward so the year you need falls within that range.

If it’s still out after that, I’d recommend reaching out to support so they can investigate further. You can do that by creating a ticket in My Account or by connecting with our live chat team through MOCA, our virtual assistant.

Regards,
Genreve