I checked every single transaction for the entire year. There were not many. All of them are good. Yet the balance is negative.:
For recording bills the transactions amount to this:
DR: Expense Account
CR: Accounts Payable.
And any payments of bills:
DR Accounts Payable
CR: Cash Account
All entries were done by my accountant, so i highly doubt they posted straight to the payables account. Even if they did the journal entries are all as I have noted above. I looked at the opening balance(s) and this doesn't make any sense to me. I am thinking that it is a bug in the MYOB software, because this happened in 2016................can you think of any other possibility besides what you listed above in that link?
Hi koshyckoshy,
Thanks for laying that out so clearly, that does sound confusing. If the bills and payments are all following the usual entries you’ve listed, then yes — another possibility is that this goes further back than the current transactions.
If the negative balance has been sitting there since 2016, the next things I’d be looking at are the Trade Creditors opening balance, whether the payables linked account was changed at some point, or whether the issue has been carried forward from an older migrated or purged file.
So in this case, it may be less about the current bills and payments being entered incorrectly, and more about a historical balance issue sitting behind the scenes.
The best next step would be to run the Payables Reconciliation for progressively earlier dates to find when it first went out of balance, then compare the Trade Creditors opening balance against an earlier backup if you have one. Receivables, payables or inventory out of balance
Regards,
Earl
So in this case, it may be less about the current bills and payments being entered incorrectly, and more about a historical balance issue sitting behind the scenes.
I have checked this as well. The problem is that 2026 is the first year of the MYOB file. There are no preceeding years. And then, the opening balance of the first year cannot account for the massive negative balance - because the opening balance is only ($2000) - or a negative 2000 balance for accounts payable.
Do you think this is worth investigation as a MYOB bug? Is there a support channel for this type of esoteric problem. It's really very, very strang e.
Hi koshyckoshy,
That definitely sounds unusual. From what we can see, this may need a closer look on the back end, as it does not look like a straightforward issue from your side. The best next step would be to get in touch with our support team so they can investigate it properly and check what is happening behind the scenes. You can reach them on Live Chat via our virtual assistant, MOCA or by submitting a support case via MyAccount.
Regards,
Earl
