Hi Spex,
Welcome to the Community Forum!
To get a clear picture of how the totals make up the amount shown on your balance sheet, we recommend checking the general ledger. This will give you a detailed breakdown of the transactions that make up the stock value. For more specific advice tailored to your business, it is advisable to consult with an accountant or bookkeeper. to ensure your financial records are accurate.
Cheers,
MYOB
Hi Princess_R,
My accountant advised to contact MYOB. From what I can gather is that we have used more stock than what we have. Which is incorrect as we still have stock. Therefore, shouldn't the value on the balance sheet be a positive? Or am I looking at it wrong. Is it showing how I'm reducing the amount of stock on hand value?
Hi Spex , it's very important that inventory is set up correctly at the start, so that subsequent transactions are recorded correctly. Your best option is to engage an MYOB partner with appropriate experience, who can review your file with you and make whatever adjustments are required.
