opening balances showing negative in p&l

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Re: opening balances showing negative in p&l

I started using MYOB Essentials back in April 2020. Initially the opening balances I entered did not load at all into the Profit & Loss Reports.

Only in the last month or so I have noticed that the opening balnces are now loading into the Profit & Loss Report but they are loading as a negative figure.

 

Very keen for a resolution to this issue as I have spent a lot of time setting this company file up on my own and do not have a clue how to set up opening balances via a journal entry (not without a lot of research anyway).

 

Looking forward to a resolution.

 

Thank you.

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Re: opening balances showing negative in p&l

Hi @Margie121 

 

This is something that is currently with the team to find a resolution to. Unfortunately I’m unable to provide a timeframe for when a resolution will be found by our team, who are working hard to find a resolution as soon as possible.

 

If you were wanting to use a journal entry to record the opening balances, I recommend seeking the advice of your accounting advisor. They should be able to assist you with how the opening balance journal should look

Regards,
Neil

MYOB Community Support

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Re: opening balances showing negative in p&l

REALLY? How is this going? It has been a few months. Are you really sure MYOB are working on a resolution? 

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Re: opening balances showing negative in p&l

Hi @TAXBoost 

 

As has been indicated, this has been something that we have identified occurring with MYOB Essentials business. At this time we don't have a timeframe for resolution, however, it is something that has been passed onto the required team to complete that further investigation for a future update. In the meantime to prevent this from occurring entering those balances via a Journal Entry would be the recommendation.

Kind regards,
Steven

MYOB Community Support

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