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Julz1's avatar
Julz1
Contributing User
27 days ago

Incorrect Balances - Trade Debtors & Sales

We are an accounting firm and have a client using MYOB AccountRight 2013.5

In their most recent file we have noticed a NEGATIVE Debtors balance which we know is incorrect. We've been able to locate one large invoice of around $130K that, when recorded, did not reflect in the Debtors balance i.e. the debtors balance DID NOT increase when the invoice was recorded, but when the invoice was paid the Debtors balance decreased. We have also found another day where around 15-20 small invoices recorded on that date did not increase the debtors balance. We have run a Sales report and compared it with Sales on the P&L and the difference is around $151,960. We don't feel that we should just do a journal entry to Debit Debtors, Credit Sales & GST Collected, as we cannot pinpoint exactly ALL the invoices that are not being reflected in Debtors. This client records about 6000 invoices in a year so there would be a lot of invoices to go through & check! 

 

Has any one experienced this & how do we get it fixed? if we need to provide the file to MYOB, what would it cost to fix?

Also the client is planning to upgrade to MYOB Pro - would the migration service to MYOB Pro find & fix these errors?

 

Thank you. Appareciate any & all feedback & help on this.

1 Reply

  • Isaiah_C's avatar
    Isaiah_C
    MYOB Moderator
    27 days ago

    Hi Julz1,

     

    Oh no! A tricky negative Debtors balance like this can be challenging, especially with such a large and active client file. 6000 invoices a year is no small feat to manage! Thanks for sharing all the details; it really helps us understand the situation better. Here’s what you can do to hopefully get this sorted out:

     

    First, it’s worth double-checking if the accounts in question are correctly linked to the right Debtors account. Sometimes mislinked accounts can cause balances to behave unusually, like what you’re seeing with those invoices not reflecting properly in the Debtors balance. This step will also help uncover if something happened during setup or along the way that's causing this issue.

     

    If everything seems to be linked correctly or the issue persists even after checking, the best next step would be to connect with our live chat support through our virtual assistant, MOCA, or submit a case via MyAccount. They can take a closer look with you, and if needed, guide you on providing the file for deeper troubleshooting. 

     

    Regards,

    Sai

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