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Incorrect Category Balance Sheet

Contributing Cover User Sam78
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Incorrect Category Balance Sheet

Hi There

 

Totals of category balance sheet do not tally with the company balance sheet. I have provided categories to all transactions and it seemes that certain transactions do not show in the category balance sheet. Therefore all bank accounts and some other accounts do not show correct balances. 

 

Im using the online version of account right 2019.1. Is there a way of correcting this? 

 

Thanks 

 

Sam

 

9 REPLIES 9
Experienced Cover User BronwynHamster
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Re: Incorrect Category Balance Sheet

Hi Steven (Moderator), is there an update on MYOB to fix this software bug which has been in place since the Live inception? It was alluded to be fixed prior to 1st July 2019 but MYOB have been deadly silent on this bug. Or are MYOB simply trying to ignore in the hope it goes away?

 

Regards, Bronwyn

Experienced Cover User BronwynHamster
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Re: Incorrect Category Balance Sheet

Hi Steven M, have I missed your reply on this one? Regards, Bronwyn

Contributing Cover User Sam78
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Re: Incorrect Category Balance Sheet

Hi Bronwyn

 

Thanks,  I just saw your message. 

 

Thanks again and hope some one will respond to this fro MYOB

Cheers

Sam

LeahF
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Re: Incorrect Category Balance Sheet

Hi Bronywn & Sam

 

Have you received any response on this problem yet?

 

I have just come across this myself as we recently upgraded to Account Right 2019.2

 

Certainly not ideal leading up to end of financial year.

 

Thanks

MYOB Moderator Steven_M
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Re: Incorrect Category Balance Sheet

Hi Everyone


Within AccountRight 2019, secondary transactions, such as a Prepare Bank Deposits and Prepare Electronic Payments, don't allow for the selection of categories or pull the category for the original payment transaction. This has been something that we have raised with the required team in the past and something we are still awaiting an implemented fix for. At this stage, I don't have a time frame of when that function will be added to the program, however, I have shared your comments with the team.


@Sam78  @LeahF  @BronwynHamster 

Kind regards,
Steven

MYOB Community Support

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

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Experienced User AnneLec
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Re: Incorrect Category Balance Sheet

Hi,

 

having just upgraded to AccountRight I have also come across this problem- or one like it in that the Category Balance Sheet is not correct.   It seems to display only certain accounts and even those balances are incorrect.  The final Category P&L at 30 June 2018 is also not correct and this compounds the problem with the balance sheet in that retained earnings are incorrect.

 

I recently spoke to a person in the MYOB tech team and they were (patiently) able to determine that there was a problem but were not able to provide a solution or even a timeframe for when this would be fixed.

 

Has there been any update?

 

We are due for an audit in August through to September - part of which involves the reporting of Categories.  It is extremely concerning that the accounting system will not show the correct figures.   As part of our governance process we must ensure that funds via different funding sources are reported and kept separate.   We have contracts that specify this must happen.

 

MYOB, please consider alerting customers that use categories BEFORE they upgrade.  If we had known this problem existed we would not have upgraded and would have waited til 30 September which is the deadline for STP reporting for employers with less that 19 staff.   As it is we have upgraded before finalising the 30 June 2019 year and have end of year journals to do that rely on the generation of the Category Balance Sheet Report. 

Has anyone found a workaround for this? -possibly downloading Category GL into excel and doing some sum ifs on the net transactions?   

 

 Some assurance that MYOB understands the seriousness of this would be comforting.  To be frank, the accounting system does not deliver what is being paid for and it is extremely concerning that MYOB are aware that this is the case - yet continue to keep it available with no warning. 

 

 

 

 

 

 

 

Experienced Cover User BronwynHamster
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Re: Incorrect Category Balance Sheet

Hi Ann, please do not hold your breath! MYOB have known of this major system bug since ARL inception in 2013 and have not addressed it in 6 years. Even though they assured me in 2018 it would be fixed by the time STP became mandatory in July this year. MYOB Classic (which you would have purchased outright) runs Categories smoothly and efficiently. Both of my Clients who require Balance Sheets per Production (TV industry) run Account Right Live for STP only and continue to use the Classic version for all accounting processes, sans payroll. Category reporting is so important to us we journal into payroll to the Classic version. If Categories are too important to you I suggest you operate similarly. MYOB simply does not listed to their Client base. Regards, Bronwyn

Experienced Cover User BronwynHamster
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Re: Incorrect Category Balance Sheet

BTW - they can't charge you support for the Classic version as they no longer support it. However, you pay their monthly/annual fee for ARL to run payroll. Alternatively, if you have less than 19 employees you could always look at STP alternatives, eg: Reckon One is $5/mnth for STP reporting then journal back into MYOB Classic. 

Experienced User AnneLec
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Re: Incorrect Category Balance Sheet

Thanks Bronwyn

 

 Appreciate your response.  Have also received messages off forum suggesting to move back to Classic.  Its confirmed suspicions and will now start the steps of entering data (only two weeks worth thank goodness)   into the old MYOB and go from there.  What is most concerning is that MYOB have the capacity to warn people about cateogories but they are not doing so.    MYOB are selling a product they know does not work. Not sure this is legal and if someone wanted to sue for waste of time its curious to think of what the outcome would be.

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