Forum Discussion

jfernando0403's avatar
jfernando0403
12 months ago

The Historical Balancing account balance is incorrect

The balance sheet does not balance. The difference is because  of a figure on the Historical balancing account.

How can a accounting system have accounts such as a trial balance and balance sheet that does not balance.

Software is Account Right.

Can someone help us.

  • Genreve_S's avatar
    Genreve_S
    12 months ago

    Hi jfernando0403, 

     

    Thank you for the response and the additional information. 

     

    May I confirm if you followed the steps mentioned in my previous response too? 

     

    We look forward to your response. 


    Thanks,
    Genreve

  • Genreve_S's avatar
    Genreve_S
    MYOB Moderator
    12 months ago

    Hi jfernando0403, 

     

    Thanks for posting and welcome to the Community Forum. 

     

    I'm sorry to hear about your balance sheet out-of-balance issue. May I get you to follow these instructions to refresh the historical balancing account?

    1. Make a backup of your file (just in case we need to restore it).
    2. Go to Setup > Balances > Account Opening Balances window.
    3. Select an account with a $0 opening balance (make sure to take note of that account).
    4. Enter a $1 opening balance to this account and click OK.
    5. Go back to Setup > Balances > Account Opening Balances window and return the value of the chosen account to $0.
    6. Click OK.
    7. Run the balance sheet report again to check the balances.

    Let us know if you require any further assistance. 

     

    Thanks,
    Genreve

    • jfernando0403's avatar
      jfernando0403
      12 months ago

      The openning balance was recorded as at 1/1/2013. The historical balancing account of -142,427.86 occured in 2019. From 2019 the balance sheet does not balance.

      • Genreve_S's avatar
        Genreve_S
        MYOB Moderator
        12 months ago

        Hi jfernando0403, 

         

        Thank you for the response and the additional information. 

         

        May I confirm if you followed the steps mentioned in my previous response too? 

         

        We look forward to your response. 


        Thanks,
        Genreve

    • Kiranpatel1's avatar
      Kiranpatel1
      12 months ago

      My historical balance should be xero .I am trying to do delet and 0 out  but it won't allow me . because its linked account

       

       

      • Earl_HD's avatar
        Earl_HD
        MYOB Moderator
        12 months ago

        Hi Kiranpatel1,

        Thank you so much for your post and welcome to the Community Forum! 

        My apologies for the late response. I'd suggest following the same steps to address this issue. If the out-of-balance amount aligns with the Historical Balancing account balance on the report, consider the following steps:

         

        1. Navigate to Setup >> Balances >> Account Opening Balances.
        2. Find an account where $0.00 is listed.
        3. Input $1 for that specific account, then click "Ok."
        4. Return to the Account Opening Balances window and remove the $1 entry for that account.

        Please do let me know how you go on this.
        Regards,
        Earl

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