I entered the opening balances according to the assignment, and everything balances, but there is a remaining balance of $3.00. How do I get rid of it? I tried searching the forum for suggestions, but they do not seem to apply to the cloud-based version.
Hi WillowSupplies,
These minor variances can sometimes appear due to rounding differences or data entry timing. Go to your balance sheet accounts and verify that all individual balances match your source records precisely. Even a small rounding or decimal discrepancy can create a slight imbalance.
You can also make a journal entry to clear the $3 imbalance. Just be sure to add a note for reference in case you need to track it later.
Regards,
Sai
If you look at the photo, the balances are correct, and the remaining balance should be $0. This does not seem to be an uncommon error in MYOB. It has been happening for years. Shouldn't this be fixed by now? Entering a journal entry to clear a non-existing imbalance does not make sense.
Hi WillowSupplies,
The screenshot you provided doesn't clearly show what's causing the historical balance. If you've checked all the data and still can't figure out the balance, I recommend creating a support ticket from the My Account window. This way, a support representative can look into it further. Also, the more information you include in the support ticket, the better the support team can help.
Regards,
Genreve
