Forum Discussion

2 years ago

The Historical Balancing account balance is incorrect

The balance sheet does not balance. The difference is because of a figure on the Historical balancing account. How can a accounting system have accounts such as a trial balance and balance sheet th...

Genreve_S
2 years ago
Hi jfernando0403,

Thank you for the response and the additional information.

May I confirm if you followed the steps mentioned in my previous response too?

We look forward to your response.

Thanks,
Genreve

Genreve_S

MYOB Moderator

2 years ago

Hi jfernando0403,

Thanks for posting and welcome to the Community Forum.

I'm sorry to hear about your balance sheet out-of-balance issue. May I get you to follow these instructions to refresh the historical balancing account?

Make a backup of your file (just in case we need to restore it).
Go to Setup > Balances > Account Opening Balances window.
Select an account with a $0 opening balance (make sure to take note of that account).
Enter a $1 opening balance to this account and click OK.
Go back to Setup > Balances > Account Opening Balances window and return the value of the chosen account to $0.
Click OK.
Run the balance sheet report again to check the balances.

Let us know if you require any further assistance.

Thanks,
Genreve

jfernando0403
2 years ago
The openning balance was recorded as at 1/1/2013. The historical balancing account of -142,427.86 occured in 2019. From 2019 the balance sheet does not balance.
- Genreve_S
  MYOB Moderator
  2 years ago
  Hi jfernando0403,
  
  Thank you for the response and the additional information.
  
  May I confirm if you followed the steps mentioned in my previous response too?
  
  We look forward to your response.
  
  Thanks,
  Genreve
Kiranpatel1
12 months ago
My historical balance should be xero .I am trying to do delet and 0 out but it won't allow me . because its linked account
- Earl_HD
  MYOB Moderator
  12 months ago
  Hi Kiranpatel1,
  
  Thank you so much for your post and welcome to the Community Forum!
  
  My apologies for the late response. I'd suggest following the same steps to address this issue. If the out-of-balance amount aligns with the Historical Balancing account balance on the report, consider the following steps:
  
  Navigate to Setup >> Balances >> Account Opening Balances.
  
  Find an account where $0.00 is listed.
  
  Input $1 for that specific account, then click "Ok."
  
  Return to the Account Opening Balances window and remove the $1 entry for that account.
  
  Please do let me know how you go on this.
  Regards,
  Earl
- Earl_HD
  MYOB Moderator
  11 months ago
  HI Kiranpatel1,
  
  I would like to check if you're still having this issue? If so, please feel free to post again and one of us will be happy to assist you.
  
  Regards,
  Earl