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Removing suspense account balances after performing a consolidation

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Contributing User SAMTAN
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Contributing User
SAMTAN
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Removing suspense account balances after performing a consolidation

 

 

Could you please provide me with detailed instructions of how the out of balance and suspense accounts came about or some instructions (that actually detail which amounts should be in the journals) that tell me how to clear them.

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Contributing User SAMTAN
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SAMTAN
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Re: Removing suspense account balances after performing a consolidation

Had anyone use the Module 'Subsidiary', consolidate function? 

MYOB Staff Post Stephanie_Y
37 Posts
MYOB Staff Post
Australia
Stephanie_Y
MYOB Staff Post

37Posts

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Re: Removing suspense account balances after performing a consolidation

Hi @SAMTAN

 

Sorry for the delayed response.
 
The cause seems to be in the way Reporter reads the MAS data in a consolidated ledger, usually for ledgers with data older than 3 years.
 
The fix should be to pass a debit entry for the amount of profit to each affected ledger from account 639. Then replicate that entry in the following years to amend the balance.
 
The amount involved is the amount sitting in the suspense account(s).
 
I hope this helps.
 
If the issue persists, please feel free to give our support team a call on AU 1300 555 666 or NZ 0800 94 96 98.
 

Kind Regards,

Stephanie
Client Services Analyst - Practice Solutions
MYOB Australia Pty Ltd
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