Automatic journal from Current Year Earnings to Retained Earnings

timbro
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Automatic journal from Current Year Earnings to Retained Earnings

Hello,

I am stumped to understand why the automatic journal feature that moves Current Year Earnings to Retained Earnings on the 1/7/xx is journaling several thousand more to Retained Earnings than the Current Year Earnings figure.

There seems to be a few posts around about something like this and they all seem to suggest a problem with the data file. Hoping this is a simple fix.

 

Thanks in advance...

 

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Komal_S
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Re: Automatic journal from Current Year Earnings to Retained Earnings

Hi @timbro 


If this amount is causing your trial balance and balance sheet out, please send us the screenshots of both reports and your serial number by a Private Message so we can investigate further.

Kind regards,
Komal

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timbro
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Re: Automatic journal from Current Year Earnings to Retained Earnings

Thanks for your response Komal,

I have been using myob for years and i have learned many work arounds for the errors that arise from time to time. Yes, it does muck things up, but time is not on my side so this one is being chalked up as yet another which I will not bother with. 

gavin12345
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Re: Automatic journal from Current Year Earnings to Retained Earnings

Hi @timbro 

 

This issue is caused by a bug in MYOB - there is no workaround and your Balance Sheet is likely to be 'out of balance'. Strongly suggest you get MYOB to fix it.

 

Regards

Gavin

Komal_S
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Re: Automatic journal from Current Year Earnings to Retained Earnings

Hi @timbro 

 

This specific issue does require the files to come in for repair, however, you can still work on your actual file while we fix it. That said, please take your time and send us the information whenever you can. 

Kind regards,
Komal

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timbro
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Re: Automatic journal from Current Year Earnings to Retained Earnings

Thanks Gavin,

I sort of stopped wondering why things were so vastly different to the accountants end of years' a long time ago so I tend to ignore the bits that are broken. If I was to fix it, I would have to go back some years (maybe 5-6) and I dunno if that means restoring a whole bunch of backups prior to end of year closures and then rolling everything forward again... sorta makes me tired just thinking about it.

Appreciate your concern though.

Kindest,

 

gavin12345
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Re: Automatic journal from Current Year Earnings to Retained Earnings

Hi @timbro 

 

MYOB can make the fix in you current file without the need to go back to earlier copies.

 

Regards

Gavin

timbro
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Re: Automatic journal from Current Year Earnings to Retained Earnings

Hi @gavin12345 

 

What is the process? Where do I start?

 

Kindest,

 

Tim

gavin12345
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Re: Automatic journal from Current Year Earnings to Retained Earnings

Hi @timbro 

 

I have contacted @Komal_S  who will help you with that.

 

Regards

Gavin

Komal_S
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Re: Automatic journal from Current Year Earnings to Retained Earnings

Hi @timbro 

 

Please send me your serial number and screenshot of your balance sheet by Private Message so we can get started with the process.

Kind regards,
Komal

MYOB Community Support

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