opening Balances in New Essentails

Highlighted
Contributing Cover User
10 Posts
Contributing Cover User
Australia
Contributing Cover User

10Posts

1Kudos

0Solutions

Solved: Go to Solution

opening Balances in New Essentails

Hi,

I'm setting up a New Essentials file and under the company name is supposed to be Account list to click on to enter Opening balance but no account list is that means I have to go into Charter of accounts and enter the opening balance in each account separately.

2 REPLIES 2
Highlighted
MYOB Moderator
3,803 Posts
MYOB Moderator
MYOB Moderator

3,803Posts

586Kudos

582Solutions

Accepted Solution Solved

Re: opening Balances in New Essentails

Hi @Wilfredr 

 

Thanks for your post. To enter your opening balances in new Essentials:

 

  1. Go to the Accounting menu and choose Chart of accounts.

  2. Click a detail account's name to open it.

  3. Enter the account's Opening balance.

  4. When you're done, click Save.
  5. Repeat to enter opening balances for each detail account.

When entering opening balances they should be entered as positive numbers. Don’t, for example, enter your liability account balances as negative numbers. Enter negative amounts only if accounts truly have negative balances. As a rule, these will be asset accounts that record accumulated depreciation.

 

Please let me know if you need further help.

 

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

Cheers,
Tracey
Previously @bungy15

MYOB Community Support

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

Did my answer help?

Mark it as a SolutionHelpful? Leave a to tell others

Highlighted
Contributing Cover User
10 Posts
Contributing Cover User
Australia
Contributing Cover User

10Posts

1Kudos

0Solutions

Re: opening Balances in New Essentails

Thank you, the old verion of Essentials had the Accounts list under the Business name so that though me off when the New Essentials did not?.

Thanks Again

Didn't find your answer here?

Try using advanced search to find a post more easily Advanced Search
or
Get the conversation started and make a new post Start a Post