Forum Discussion

Chris2026's avatar
Chris2026
Member
1 day ago

Opening balances and remaining balance error

I've just moved over to MYOB Business Lite from old MYOB AccountEdge (Mac) software.

Everything has been set up manually (ie. no migration from our old software), as we decided it was simpler just to start fresh with the current financial year 01/07/26 and no historical information carried over. Our business structure is quite basic so this seemed to be the best way moving forward with the online system.

I have set up our chart of accounts (categories), and entered opening balances for our asset, liability and equity accounts at 01/07/26. I entered the opening balances by selecting 'edit categories' at the top of the main categories page and entering the appropriate amounts. Everything balanced, and the remaining balance showed $0.00, so I clicked save.

However if I click on 'edit categories' again it now shows an odd amount in remaining balance. The chart of accounts still show all the correct opening balance amounts, as does the balance sheet report at 01/07/26, with nothing in historical balancing.

Is this a known software glitch and can it be rectified? When I went back into 'edit categories' I noticed the opening balances for all accounts (except three) now had $0.00, but the current balances all showed the correct opening balance amounts. Interestingly, the three accounts that still showed opening balance amounts (as well as current balance amounts of the same values) on this page almost equalled the remaining balance — they were out by exactly $2.00.

Tried logging out and clearing my browser cache etc, but this made no difference. I also tried the suggestion made in some other posts about entering/deleting a nominal $1.00 amount in a different category to refresh the accounts, but this didn't work either.

I wanted to know if others have experienced this and if there is any solution, or if I need to be concerned by this anomaly when all our reports etc are showing the correct information.

Thanks for any help or advice anyone is able to provide.

1 Reply

  • Princess_R's avatar
    Princess_R
    MYOB Moderator
    1 day ago

    Hi Chris2026,

     

    Welcome to your new business file, and thanks for sharing all those details. It’s great to see you’ve already tried a few troubleshooting steps yourself. 

     

    It's unusual to see unexpected amounts after starting fresh. After entering your opening balances, the Remaining balance should show $0.00. If it shows another amount, it’s worth checking your opening balances again to make sure none are missing or incorrect. I’d recommend checking our opening balances guide, which provides more detail on what to do when a remaining balance appears. Please check your linked accounts as well, and make sure no transactions have been entered that could affect those accounts. If you need a hand sorting this out, you can contact our support team through any of the options available on our Contact page.

     

    Cheers,

    Princess