Review Opening Balances

https://help.myob.com/wiki/x/Dyt3AQ

Now that you have configured a common ledger, check that the balances in your client's data file is the same as the balances in your ledger.

If your client's ledger balances in the prior year and past 5 years is the same as the balances in your general ledger software, you can continue to Define Balance Forward Accounts,

If your client's balances are different to yours, you'll need to post a journal to bring them into alignment. Use the table below to determine the most effective way of updating your client's file.

Method	Description	Best for
Perform opening review	Compares account balances from your current general ledger with the balances in your client's MYOB AccountRight or Essentials common ledger. If there is a variance between the account balances, the Perform Opening Review will post journals to the common ledger to align the balances with that from your general ledger.	If you have previously used MAS, Accounts or AO Classic General Ledger to prepare end-of-year accounts. You have a 3 or 4 column .CSV file export containing the account codes, account names and balances.
Modify prior year balances	Lets you adjust the prior year balances in the configured common ledger. This function does not post journals to your client's AccountRight or Essentials file. The modified balances are stored in your database to be used by Client Accounting only.	If you want to display correct prior year balances in the reports without posting to the underlying common ledger.
Process manual journals	Manually prepare and post journals into the AccountRight or Essentials file to align the balances between your general ledger and your client's common ledger.	Prior year accounts have been prepared in a third party software or you do not have a correctly formatted .CSV file to import.

You are in MYOB Ledger module...

Tasks in this module

The root page MYOB Ledger module 1. Setting up MYOB Ledger could not be found in space MYOB Client Accounting.

Related topics

Create MYOB Ledger

Configuring the client (AE Help)

<< Migrating to or creating MYOB Ledger Checking the accounts >>

Page tree

Was this information helpful?

How would you improve this topic?

Did you find what you were looking for? *

What are you looking for help with? *

Overall, how satisfied are you with this help centre? *

What was the reason for your rating?

What is Client Accounting?

MYOB Ledger

MAS, Accounts or AO GL

MYOB Essentials or
AccountRight Live

Need More Help?