29 days ago
Balance Sheet doesn't Balance
My balance sheet doesn't balance by $250. ( Net assets > Equity ) By balance sheet as at 31 DEC 2017 is in balance , but Balance sheet as at 01 JAN 2018 is OUT. Not many transactions on 01 JAN 2018...
Just a bit of updated info ...
We are December year end , Retained earnings carried forward to Jan are incorrect by $250. So looks like an issue with Yearend rollover ???
How to fix ?
Hi Dan10
This can be quite tricky. To refresh your historical balance and resolve any discrepancies, please follow these detailed steps:
Please do let know if it resolves for you.
Regards,
Earl
Hi Earl,
followed your instructions very carefully - but with no success.
Balance sheet still has $250 difference between Net assets and Equity.
Next step ?
Dan
Hi Dan10
Suggested fix only works when the issue is caused by a faulty Historical Balance. Your out of balance seems to be caused by the EOY journal being faulty - this needs to be repaired. Either by MYOB or others.
Regards
Gavin