Forum Discussion

VM-Sunrise1's avatar
VM-Sunrise1
Contributing User
1 year ago

How do I close off the financial year on MYOB Business?

I am trying to reconcile my General Ledger account for Profit and Loss, however, my opening balance in the new financial year has been carried forward. May I know what is the problem?
Isaiah_C's avatar
Isaiah_C
MYOB Moderator
1 year ago

Hi VM-Sunrise1,

 

If you're seeing an opening balance, it might mean that the account has been set up incorrectly as a Balance Sheet type, or there could have been a journal posted to it after year-end that needs checking.

 

If the issue persists, reach out to our live chat support through our virtual assistant MOCA or submit a case via MyAccount so they can take a closer look on this.

 

Regards,

Sai

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