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record journal entry for opening balance

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H2ng
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record journal entry for opening balance

Hi

 

I am trying to create a journal entry for my openning balance. There is number of asset accounts and liability accounts, I have debit all the asset account and credit all the liability account. However, My credit and debit is not equal each other and the out of balance not equal to 0, which is wrong because the excercise require me to have credit and debit equal to each other

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Neil_M
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Re: record journal entry for opening balance

HI @H2ng

 

Welcome to the MYOB Community Forum, I hope you find it a great resource

 

Generally speaking if you were unsure as to how a journal entry should look then you would be best to speak with your accounting advisor, as they will be able to advise you of how the journal entry should look. If you were having trouble with an assignment or exercise then I recommend speaking with your instructor

Regards,
Neil

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