When you start using MYOB Essentials Cashbook, you will need to enter account opening balances for all the businesses that you manage.
If you began using MYOB Essentials Cashbook:
- at the start of the financial year, enter the opening balances of asset, liability and equity accounts only. The opening balances of income, cost of sales and expense accounts should be zero.
- at any other time during the financial year (for example, in September, when your financial year started in July), enter the opening balances of all accounts.
To enter account opening balances for a businesses
- Open the cashbook for the relevant business.
Go to Settings> Account List.
Check that the Opening balance date at the top left of the page is correct, and edit it if necessary.Note: Be careful if you're changing the opening-balance date to a later date. If you've been using MYOB Essentials Cashbook for a while, any allocated transactions dated prior to the opening-balance date will be marked as historical. They won't appear on reports and will not be taken into account for running balances.- Find the account for which you want to enter a balance, and click on it. The account fields now become editable.
In the Balance field, enter the opening balance amount and press ENTER.
Note: Enter opening balances 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.