Forum Discussion

lewraprhodes's avatar
lewraprhodes
Contributing User
2 years ago

Historical Balancing

I noticed an amount in my Balance Sheet under Accounts Payable and conducted some investigations.  I determined that I had some invoices that were dated prior to my start date for MYOB use.  Invoices as below.  All invoices have payments recorded against them. 

 

 

When I looked into one of the invoices, an information message advised as shown below.

 

 

I've since updated the relevant account opening balance accordingly. as shown below.

 

 

However, now on my balance sheet I have a negative amount under Historical Balancing for this total amount.   

 

 

I have all the correct opening balances so I'm unsure why it's still generating a historical balancing amount.  Can someone please assist?

 

1 Reply

  • Princess_R's avatar
    Princess_R
    MYOB Moderator
    2 years ago

    Hi lewraprhodes,

     

    Thank you for your post and your patience in waiting for a response.

     

    To resolve this issue, you can refresh the historical balance by following the steps below:

    • Go to Accounting >> Chart of Accounts >> Account Opening Balance.
    • Select an account with a $0 opening balance (note this account).
    • Enter a $1 opening balance for this account and click OK.
    • Go back to Accounting >> Chart of Accounts >> Account Opening Balance and remove the $1 balance to make it $0. Click OK.
    • Run your balance sheet again, and it should now balance.

    Additionally, this Help article, Entering Opening Balances, has detailed information that you might want to review.

     

    If the balance sheet is still out, please send us your balance sheet by directly reaching out to our virtual assistant, MOCA, on our website or submitting a support request via My Account.

     

    If my response has answered your inquiry, please click "Accept as Solution" to help other users find this information.

     

    Cheers,

    Princess

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