Trial Balance out of Balance since Jan 2019

Hi TabithaField

Thanks for your post, and welcome to the MYOB Community Forum.

If there is an out of balance in trial balance, you may need to follow the steps provided below to correct the situation:

• Take a backup of their company file (Back up your company file)
• Have the customer go to Setup >> Balances >> Account Opening Balances
• Select an account with a $0 opening balance (make sure they remember the account - write it down)
• Enter a $1 opening balance for this account and click Ok
• Go back to Setup >> Balances >> Account Opening Balances and remove the $1 opening balance, returning it to $0 again
• Click Ok
• Run the Balance Sheet again and check that it balances

If you're still experiencing an out of balance in your trial balance, try our virtual assistant MOCA? It's designed to dive deeper into issues like this. Give it a go!

Feel free to engage with MOCA through myob.com/support for any queries or assistance you might need. Don't worry if MOCA can't provide the help you need, our live chat team is just around the corner to pick up from where MOCA left off.

Feel free to post again if you encounter issues in the future.

If my response has answered your inquiry, please click "Accept as Solution" to assist other users in finding this information.

Best regards,

Doreen

Hi,

I am reporting FY23/24 tax, and the trial balance at 30/6/24 is not balancing by $317.52.

The trial balance at FY22/23 (which is already close) do balance. 

Trial balance on 31/7/24 however is out by the same amount ($317.52).  I looked through all the journal entries from 1/7/24 to 31/7/24, they all balance, so I cannot fathom why the discrepancy exists? Is this a software glitch?

Please help!

Thanks Genreve_S.

My current financial year is already set to what you recommended.