Opening balance issue
How do i add an opening balance in Solo version
Forum Discussion
Hi Melby,
I am the treasurer of a Not Profit organisation and I was trying SOLO, the cut down version of MYOB. I ended up not using it as I could only select 10% for GST. Since we buy some food items, not all of which attract GST, so the GST is a specific amount as shown on an invoice, not 10% of the invoice. Also there was no option to add an opening balance. I could fudge that but the GST means SOLO is not suitable for us. Being an NFP, paying the full price is also not an option, we have to watch our spending.
Cheers.
Gerry Ligtermoet
Geogerry@icloud.com
Hi Geogerry,
Thanks for reaching out.
We can adjust GST settings at both invoice level and item level, depending on how you want things to flow. So if some customers need GST applied on an item, and others don’t, you’ve got the flexibility to make that work both ways.
Here’s a helpful post explaining how it works at both levels:
https://community.myob.com/discussions/ask-a-question/adjustable-gst-amount-in-expense-tracking/912956
Thanks,
Hannah
