Forum Discussion

Mojo1's avatar
Mojo1
Contributing Cover User
18 days ago

Historical Balancing

Hi,

 

I have a historical balancing amount which I did not create. The balance is sheet is out by this amount. I read through some of the posts that have been posted with the same issue and tried to implement the solution given. 

 

  1. Navigate to Setup >> Balances >> Account Opening Balances.
  2. Choose an account with a $0 opening balance (take note of the account - jot it down).
  3. Enter a $1 opening balance for this account and click Ok.
  4. Return to Setup >> Balances >> Account Opening Balances and remove the $1 opening balance, restoring it to $0.
  5. Click Ok.
  6. Re-run the Balance Sheet and verify that it now balances

This did not solve the issue but ended up with a bigger balance. How can I fix my Balance sheet? 

  • Princess_R's avatar
    Princess_R
    MYOB Moderator
    18 days ago

    Hi Mojo1,

     

    Thank you for giving the workaround a shot! There are many factors that could cause an out-of-balance balance sheet, including data corruption or data entry errors. The workaround you tried is one possible solution, but since it didn't resolve your issue, it would be best to reach out directly to our support team for further help. You can connect with our live chat agents via the virtual assistant MOCA or create a support ticket via MyAccount. They can thoroughly examine your file to figure out if it needs to be repaired. 

     

    Cheers,

    Princess

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