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Unbalanced BS

GinaMcC
4 Posts
Cover User
Australia
GinaMcC
Cover User

4Posts

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Unbalanced BS

Hi 

 

When creating a report for a client in Client accounting, the balance sheet has a duplicate entry i.e. Profits Earned this year and Retained earnings are both $129548.40 and the report says that the BS is our of balance by $129548.40

 

BS unbalanced.PNG

 Any help as to how to get it to balance greatfully received!

 

5 REPLIES
MYOB Moderator JakeN
1,111 Posts
MYOB Moderator
Australia
JakeN
MYOB Moderator

1111Posts

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Re: Unbalanced BS

Hi @GinaMcC,

 

This may need to get escalated to get this resolved however please check the following, Total Equity - Net Assets = Historical Balancing.

 

Let us know if this is the case otherwise we will proceed with the escalation.

Cheers, JakeN

Social Support Representative

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GinaMcC
4 Posts
Cover User
Australia
GinaMcC
Cover User

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Re: Unbalanced BS

Hi Jake,

 
Many thanks for your reply. My apologies but I don't understand what you mean by historical balancing? Re running the financial reports for this client for the last 3 years I have the same problem. Please could you "proceed with escalation" and let me know what I need to do to resolve the issue?
 
Many thanks.
Kind regards
GinaMcC
4 Posts
Cover User
Australia
GinaMcC
Cover User

4Posts

2Kudos

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Re: Unbalanced BS

How do I escalcate this? 

Many thanks

Kind regads

MYOB Staff Post Stephanie_Y
27 Posts
MYOB Staff Post
Australia
Stephanie_Y
MYOB Staff Post

27Posts

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Accepted Solution Solved Solution

Re: Unbalanced BS

Hi @GinaMcC

 

Thanks for your post.
 
I would suggest to check the Account Groups.
 
This can be found once in Reports Tab on the left hand side under the header REPORTS.
 
Once this is selected, navigate to Balance Sheet > Equity > Retained Earnings
 
Retained profits should be allocated in the second Retained Earnings folder.
Profits earned this year should be allocated in the Current Year Earnings folder.
 
If they are not allocated to these folders you can cut and paste the account codes into the required areas.
 
If the issue persists you can call MYOB Support on 1300 555 666 (AU) or 0800 94 96 98 (NZ) to assist further with this.
 
Or instead you can create a web request by logging in to my.myob > Support > Support Requests and Create New Support Request.

Kind Regards,

Stephanie
Client Services Analyst - Practice Solutions
MYOB Australia Pty Ltd
GinaMcC
4 Posts
Cover User
Australia
GinaMcC
Cover User

4Posts

2Kudos

0Solutions

Re: Unbalanced BS

Excellent, that worked it is now balanced - thank you :-) 

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