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My balance sheet does not balance

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Partner rmay
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My balance sheet does not balance

How do I fix my balance sheet so that it balances? I have narrowed down the problem to 3 opening balances as at 30/6/17 but I am unable to fix them. If I adjust them through the opening balance function it fixes my assets and liabilities but creates a historical balancing amount that throws off my equity. I suspect the problem occurred when my client converted to the latest MYOB and will need support to correct it.

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Super User sholt73
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Re: My balance sheet does not balance


@rmay wrote:

I suspect the problem occurred when my client converted to the latest MYOB


I noticed you tagged your post is related to AccountRight Classic, is the report that's out of balance in AccountRight Classic or AccountRight 2019? the way forward for this can change depending on which version the issue is in.

Partner rmay
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Re: My balance sheet does not balance

It's Accountright 2019, sorry must have mistagged it... 

Super User sholt73
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Re: My balance sheet does not balance

sorry @rmay I don't stick to the forum as often these days. considering the weeks since the reply, did you get this fixed with support?

 

if so, can you share the solution? might help others in the same situation.

MYOB Moderator Steven_M
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Re: My balance sheet does not balance

Hi @rmay 

 

If you didn't manage to get your Balance Sheet to balance with AccountRight 2019, does it show an amount on that report for the Historical Balancing account? If so, does that account balance match the out of balance?

 

Should that out of balance match that Historical Balancing account balance on that report, I would be attempting the following:

  1. Go to Setup>>Balances>>Account Opening Balances
  2. Navigate to an account that has $0.00 listed
  3. Enter $1 for that account before selecting Ok
  4. Go back into that Account Opening Balances window and remove that $1

The above process will attempt to refresh that historical balancing account, which in turn should balance that Balance Sheet. If that situation is still occurring after that process then we may need to arrange for the company file to be sent in for an investigation and possible repair.

Kind regards,
Steven

MYOB Community Support

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Partner rmay
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Re: My balance sheet does not balance

Hi @Steven_M ,

There is no historical balancing account in the balance sheet. I did try your suggestion just in case but it made no difference. How do I go about getting the file repaired? I can tell you which balance sheet accounts have incorrect opening balances (interestingly they are all linked accounts).

Thanks,

Roxanne.

MYOB Moderator Steven_M
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Re: My balance sheet does not balance

Hi @rmay 

 

I've sent you a direct email with all the details in regards to getting that file sent in for an investigation and possible repair. All the information required is included in the email but do let us know if you have any questions about the process.

Kind regards,
Steven

MYOB Community Support

Online Help| Forum Search| my.MYOB| Download Page

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Partner rmay
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Re: My balance sheet does not balance

@sholt73 , I'm afraid there was no easy solution for other members - the file has had to be sent to MYOB for repair. 

Partner rmay
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Re: My balance sheet does not balance

@Steven_M  for future reference, can I send a file to MYOB for repair at anytime, or do I need to post on the forums and get the attention of someone such as yourself first? I still have plenty more clients who will need to upgrade in the future so it would be helpful to know if this happens again. 

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