Forum Discussion

12008's avatar
10 days ago

Unbalanced Balance Sheet

The balance sheet on 30/10/2018 balances. The balance sheet on 01/11/2018 does not.

 

November balance sheet shows a negative balance of $3,832.51 in account Electronic Clearing Account, however when you look at a general ledger there is no balance in the account at that point in time. There are then transactions on 12/11/2018 with a credit and debit of $3,832.51 (which ultimately clear each other out). It would appear that perhaps there was an error in coding that transaction at 01/11/2018 with the original payment? Not sure how else it could have happened..

 

So, the problem at present is that the balance sheet does not match the general ledger with the issue starting 01/11/2018 and continuing through to present day. If you grab a general ledger for account 1-1145, you will see a balance of $3,832.51, but of course there is no balance on the balance sheet as at today. I think this is due to a old accountant dong a  journal @ 30 June 2023 so he could get the account to show as being cleared on the balance sheet (perhaps without realising the balance sheet didn't balance).

 

Can someone please advise of a solution to this. Thank you

  • Genreve_S's avatar
    Genreve_S
    MYOB Moderator

    Hi 12008,

     

    The balance sheet value for the electronic clearing account for the two different periods does not match. However, it's difficult to determine the cause with just this information. I recommend contacting support via the My Account page or going through MYOB's Online Chat Assistant (MOCA) for further investigation.

     

    In the meantime, feel free to create a new thread if you need any other help.

     

    Thanks,
    Genreve

    • 12008's avatar
      12008

      Hi Genreve

       

      Thank you have contacted MYOB support and sad to say they could not assist any further

      • Princess_R's avatar
        Princess_R
        MYOB Moderator

        Hi 12008,


        While the forum is a great place for general advice and peer support, it is not a direct support channel for in-depth account-specific issues. Since your situation is pretty complex and involves transactions going back to 2018, our dedicated support team would be the best place to help you out. They'll need to dive deep into your account details, balance sheets, and general ledger entries. You can follow the steps provided on this thread. However, because your transactions are from a while ago, it might be a good idea to check in with your accountant for a thorough review of all recorded transactions.

         

        Cheers,

        Princess