Forum Discussion

keilesh's avatar
keilesh
Member
8 months ago

Balance Sheet in MYOB

I'am  new to MYOB and have a question around balance sheet liability balances showing positive balance/number. Eg  Trade Creditors should always show a credit balance ....but in MYOB it is reported ...
Earl_HD's avatar
Earl_HD
MYOB Moderator
8 months ago

Hi keilesh,

Welcome aboard! liabilities typically have a credit balance, so a debit balance or positive number for a liability like Trade Creditors indicates an error, such as a payment being recorded before the actual invoice date, an overpayment by a customer, or a problem with opening balances. You can also reach out to our team so they can dig deeper with this. You can reach them on Live Chat via our virtual assistant, MOCA or by submitting a support case via MyAccount.

Regards,
Earl

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