Retained Earnings Rollover
$2742.50 which is included in the net profit for 2022-23 has somehow reversed in July 2023. Instead of being included in the Retained Earnings it is a debit entry in July 2023 trial balance and the ...
Forum Discussion
Hello Robyn-COS,
Thank you for your reply.
If Total Equity - Net Assets = Historical Balancing, we can refresh the historical balancing account to fix the out-of-balance.
To refresh the Historical Balance:
- Take a backup of your company file.
- Go to Setup >> Balances >> Account Opening Balances.
- Select an account with a $0 opening balance (note this account).
- Enter a $1 opening balance for this account and click OK.
- Return to Setup >> Balances >> Account Opening Balances and remove the $1 opening balance, setting it back to $0.
- Click OK.
- Run the Balance Sheet again to check if it balances.
If the out-of-balance is not the amount of the historical balance account, I recommend contacting our Support Team by creating a case through your MyAccount. Your file might need a data file repair. Please sign in with your MYOB login, go to the main dashboard, and select "Contact Support."
Kind Regards,
AM
Hi Alesha
I have tried this and it hasn't worked. I need to create a case as suggested but I cant find "Contact Support". I went to the dashboard for Clean Oil Services and couldnt find it and I also went into my.myob home page and couldnt find it.
Hi Robyn-COS ,
If you're still having this issue after following all the troubleshooting steps, additional assistance from the backend may be required. I recommend reaching out to our virtual assistant, MOCA. It's designed to dive deeper into issues like this. Give it a try! You can engage with MOCA through myob.com/support for any queries or assistance you might need. If MOCA can't provide the help you need, our live chat team is available to pick up from where MOCA left off.
Regards,
Earl
