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Reseting account balances

SCL82
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Reseting account balances

We wish to move to MYOB Business from a very old version of AccountRight, but would prefer to start all the accounts again rather than migrate as accounts are in places where they probably shouldn't be and this is an opportunity to fix it.

 

So we can see if MYOB Business is suitable, we'd like to run it for a few months in parallel with the existing system (we wouldn't be doing any invoicing etc.) to iron out any issues (get bank feeds up and running etc.) then at the beginning of the reporting year switch to using the new MYOB Business for full reporting.

 

Is it possible to reset the entire account file (ie delete transactions and reset the account balances)?

Here it states that opening balances are set when you start and cannot be changed

https://help.myob.com/wiki/display/myob/Entering+opening+balances

 

Or is it possible to change the opening date and balance?

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SamaraM
MYOB Moderator
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MYOB Moderator
MYOB Moderator

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Re: Reseting account balances

Hi @SCL82 

 

Welcome to the Community Forum.

 

When you began using MYOB Business, you will be prompted to enter the opening balances of all your accounts. As mentioned in that article it is not possible to change the opening date and balance after you start using it If a mistake was made, you would need to cancel the file and start again. 

 

In your situation, instead of migration, you could create a fresh MYOB Business subscription, then import only the necessary information from your old AccountRight version?

 

Hope that answers your question and do let me know if you require more assistance. 


If my response has answered your enquiry please click "Accept as Solution" to assist other users find this information.

Regards,
Samara

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