Retained Earnings is incorrect

I have been speaking to MYOB support about a similar but not identical problem.  The trial balance does not balance because the bookkeeper zeroed the totals on some creditor invoices from the creditors ledger five years ago.  The imbalance shows in the retained earnings account even after the creditor invoices have been returned to the correct values.  Every time I call MYOB support they assure me the problem has been escalated to the Data File team and they will email me immediately.  I haven't yet heard from them.  Like Leith I find this very frustrating.  I wonder if there is some way I can escalate the problem or speak to the Data File team directly.

I have just been asked to run my balance sheets for last year, this year and next year again. I have already done that and sent the information to MYOB. Its like a new person takes over each time and can't see what I have already been asked to do and what I have already sent through. It is immensely frustrating.

Hi leith971,

That loop of repeating the same steps and re-sending trial balances isn’t the experience we want for you. Thanks for hanging in there.

Retained earnings can sometimes look off after rolling the financial year, often from a missing or corrupted year-end journal, or a data integrity issue. You’re right that our team has fixed similar cases before, but we can only jump in after the full set of checks (like the ones Jewel emailed) are run. Since those didn’t sort it out, this is where our team takes over to dig in and might repair the file so we can get this resolved. I’ve already looped Jewel in on your case, and you should see an email from them soon.

Cheers,

Princess