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 th...
  • 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

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

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