Forum Discussion

M77's avatar
M77
Member
4 years ago
Solved

Historical Balance out of Balance Years after Setup

Hi there, We have used Account Right for 10 years now and all of a sudden our Retained Earnings account is out of balance so that Assets-Liabilies (Net Asset Amount) is NOT equal to Equity.  We ha...
  • Komal_S's avatar
    Komal_S
    4 years ago

    Hi M77 

    Welcome to the Community Forum!!

     

    If you run the balance sheet and Total Equity - Net Assets = Historical Balancing, we can do the following steps to fix the out of balance.

    1. Backup the .file
    2. Go to the Setup Menu > Balances > Account Opening Balances
    3. Select an account with a $0 opening balance (note this account)
    4. Enter a $1 opening balance for this account and click ok.
    5. Go back to Setup Menu > Balances > Account Opening Balances and remove the $1 balance to make it $0
    6. Click Ok
    7. Run your balance sheet again and it should now balance.

    If the balance sheet is still out, send us your balance sheet by Private Message so we can investigate further.

Komal_S's avatar
Komal_S
MYOB Staff
4 years ago

Hi M77 

Welcome to the Community Forum!!

 

If you run the balance sheet and Total Equity - Net Assets = Historical Balancing, we can do the following steps to fix the out of balance.

  1. Backup the .file
  2. Go to the Setup Menu > Balances > Account Opening Balances
  3. Select an account with a $0 opening balance (note this account)
  4. Enter a $1 opening balance for this account and click ok.
  5. Go back to Setup Menu > Balances > Account Opening Balances and remove the $1 balance to make it $0
  6. Click Ok
  7. Run your balance sheet again and it should now balance.

If the balance sheet is still out, send us your balance sheet by Private Message so we can investigate further.

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