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GDay53's avatar
GDay53
Ultimate Cover User
3 months ago
Solved

Opening Balances entered wrong amounts

I have a new client that has entered wrong amounts in the opening balances. How do you fix that?

  • Isaiah_C's avatar
    Isaiah_C
    3 months ago

    Hi GDay53,

     

    Totally get how easy it is to trip up with opening balances when setting a new client up. To fix it, head to Accounting > Categories (Chart of accounts) > Edit Categories, then open the relevant account and update the opening balance from there. Once you've made the changes, it's a good idea to double-check everything still balances nicely. Here's a handy link with information: Enter category opening balances.

     

    Regards,

    Sai

2 Replies

  • Isaiah_C's avatar
    Isaiah_C
    MYOB Moderator
    3 months ago

    Hi GDay53,

     

    Totally get how easy it is to trip up with opening balances when setting a new client up. To fix it, head to Accounting > Categories (Chart of accounts) > Edit Categories, then open the relevant account and update the opening balance from there. Once you've made the changes, it's a good idea to double-check everything still balances nicely. Here's a handy link with information: Enter category opening balances.

     

    Regards,

    Sai

  • GDay53's avatar
    GDay53
    Ultimate Cover User
    3 months ago

    Thanks for the reply. I tried doing that but it won't let me change opening balances in the Income or Expenses. Thinking I might have to do a General Journal to get rid of the amounts but that won't change the opening Balances.

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