Enter historical transactions prior to conversion date
HI there
I have opened a new company in MYOB with a start date of 1 July 2020 but need to enter opening balances and historical transactions for debtors and creditors that relate to the prior financial year. When I go to enter these transactions and date them prior to 1 July 2020, I get an error message - You may not enter transactions before your conversion date.
Is there a work around as I believe I can't change the start date of the company ? Although to be honest, I'm not sure how many companies open their accounts books prior to the start date of what they need and it seems to be that a lot of people have this problem so is there an easy work around ?
Many thanks
Linda
Hi aaromat
Historical invoices and purchases (outstanding sales or purchases prior to the conversation date) can be entered in via Setup>>Balances>>Customer Balances or Supplier Balances. This method will allow for the creation of pre-conversion sales/purchases and will appear in the Recieve Payments/Pay Bills window ready for payment but will not impact the accounts.
Our Help Articles: Entering customer opening balances and historical sales & Entering supplier opening balances and historical purchases have more information on that process.
Do let us know how you get on and if you require further assistance.
