I have run a 'find transactions report' to check for any transactions in the Historical Balancing account for dates going back pre conversion and post current date and no transactions were found.
Hi KimC,
We appreciate the information you provided. In this regard, the balance sheet will not balance if you do not input all the numbers when entering your opening balances or if there is a mistake with one of the balances. To solve the problem, MYOB adds the balancing amount to the historical balancing account. Once all assets, liabilities, and equity have been entered or found to have the correct value the historical balance account will reset to zero.
You need to check that you have entered all the assets, liability, and equity balances correctly as of your conversion date. You might find it helpful to compare the balances you have entered with a balance sheet provided by your accountant, dated as of your conversion date.
If you need further assistance with this, please feel free to post again. We are happy to assist.
If my response has answered your enquiry, please click "Accept as Solution" to assist other users find this information.
Thanks,
Cel
All assets, liabilities & equity accounts have been entered. The net assets agrees with the accountant prepared balance sheet. The equity accounts all agree with the accountant prepared balance sheet, however there is a balance in 'Historical Balancing' account (that has no transactions) and this is the amount that is causing the out of balance amount in the balance sheet. Can you please contact me to check the file directly.
Thank you.
