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qls-tania's avatar
qls-tania
Cover User
2 years ago

Changing classification of Bank Account

We have a bank account which is set up as a Liability in MYOB (2-1100) with a balance e.g. -50,000 which is now actual cash on hand.

The bank account is no longer a Finance account and it is purely just income 

I would like to move it from Liabilities to Cash on Hand but not sure how to achieve this via a Journal.

  • Hi qls-tania 

     

    Thanks for your post. From an AccountRight perspective, if you are wanting to move an amount from one account to another you could record a general journal. If you are not sure about the applicable accounts and tax codes I would recommend checking with your accountant.

     

    Please let me know if you need further help.

     

    If my response has answered your enquiry please click "Accept as Solution" to assist other users find this information.

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  • Hi qls-tania 

     

    Thanks for your post. From an AccountRight perspective, if you are wanting to move an amount from one account to another you could record a general journal. If you are not sure about the applicable accounts and tax codes I would recommend checking with your accountant.

     

    Please let me know if you need further help.

     

    If my response has answered your enquiry please click "Accept as Solution" to assist other users find this information.