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.
