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AscentSolution's avatar
AscentSolution
Contributing User
5 days ago

General Ledger Report not matching Balance Sheet Account Balance

Hi,

 

I used to regularly use the Find Transactions for a period of time in MYOB Account Right to see all the transactions that occurred for a particular account for a period of time and the opening and closing balances on the find transaction screen would match a Balance Sheet if I were to run one at either the start or the end date of the period of time I was looking at.

 

This would be helpful when it comes to double check GST account for BAS Reconciliation and other things.

 

I was trying to find a similar thing in MYOB Business.  I thought the General Ledger transaction listing where it has all the transactions for an account and its balance would fulfill the role perfectly and it should.  However, the Balance shown on the Balance Sheet for the specific account doesn't match then ending Balance on the General Ledger Report. It's all over the place, especially historically.  

 

Any thoughts or help on this?

 

Thanks


Jeff

5 Replies

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  • Isaiah_C's avatar
    Isaiah_C
    MYOB Moderator
    5 days ago

    Hi AscentSolution,

     

    Thank you for the post. To resolve the issue, you'll need to either delete the affected transactions or reallocate them to the correct accounts. It's important that spend and receive money transactions are not allocated to the same account where the money is being paid or received. Please make sure to adjust these allocations accordingly to ensure accurate account management.

     

    Regards,

    Sai

     

    • AscentSolution's avatar
      AscentSolution
      Contributing User
      5 days ago

      Hi,

       

      I don't think you are understanding the problem. Shouldn't the General Ledger Detail report end balance match the Balance sheet balance for the end date of the General Ledger report?

       

      There is no affected transactions.  The reply reads very generic without actually dealing with the issue at hand.

       

      Warm Regards

       

      Jeff

      • Genreve_S's avatar
        Genreve_S
        MYOB Moderator
        5 days ago

        Hi AscentSolution , 

         

        I'm sorry to hear about the two reports not matching. Generally, the values of these reports for the same period should match. I recommend you reach out to our virtual assistant, MOCA, on our website, or you can request support via my account at myob.com. If MOCA can't help, you'll be automatically directed to our live chat team as this will need further troubleshooting to find the cause.

         

        In the meantime, feel free to create a new thread if you need any other help.

         

        Thanks,
        Genreve