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GemH's avatar
2 months ago

Balance Sheet balances don't match GL balances

I am trying to do the 31/03/24 year end accounts for a client who runs MYOB Business Pro.

When I run the balance sheet the cheque bank account balance (which is fully reconciled) shown on the Balance Sheet shows $1,255.93 (incorrect), but when you click on it and it brings up the GL code, it shows a balance of $2,807.16 (correct). There is no issue with the savings bank account balance.


There is also a debtors balance of -$309.00 shown on the Balance Sheet (incorrect), and when you click on it and it brings up the GL, it shows a balance of $0 (correct).


The transactions running through both GL accounts are correct, the balances are just not pulling through to the Balance Sheet correctly. The cheque bank account and debtors balances on the Balance Sheet are now shown incorrectly right back to 2018 when the ledger was set up. The opening balances for each account/category are correct, and the values in the GL are correct, they are just not shown correctly on the Balance Sheet. There was no problem with this last year when I completed the 31/03/2023 year end accounts (ie, something has changed during the year with the set out/reports that has caused this issue).


Please help me fix this - I see lots of people have had this problem over the past few years and all of the discussion posts I saw had the reply function turned off, without an obvious solution. I've attached a word document with screen shots of the issue.

1 Reply

  • I'd also like to add that because these two balances are pulling through incorrectly, the Balance Sheet actually doesn't balance: Net Assets does not equal Total Equity.

    They are out by the discrepancy with the cheque bank account balance, and the discrepancy with the debtors balance.