Net Assets do not equal Total Equity
Hello I have an error where Net Assets do not equal Total Equity, due to an incorrect Retained Earnings figure being brought across from the previous financial year. As Retained Earnings is a re...
Forum Discussion
Hi Doreen_P ,
I have come across this same issue- I am unsure as to why the retained earnings that have come across are different Thus Balance sheet Net Assets and Equity are out. Any assistance would be appreciated. Regards, Courtney
Hi Courtney5,
I hear you. It's a bit puzzling when the numbers don't quite add up the way you'd expect. Retained earnings being out of whack can sometimes happen if there's been a rollover issue in a prior year, or if something in the history hasn't flowed through properly. We've got a handy post here that runs through a few steps you can do to get things back in order: Balance Sheet is out of Balance | MYOB Community. If you've given those a go and the balance sheet's still looking off, best bet would be to have our support team take a closer look at your file.
You can reach out to our live chat support through our virtual assistant, MOCA, or submit a case via MyAccount and they'll help get it sorted for you.
Regards,
Sai
