Balance sheet values are incorrect due to future dated transactions

Overview

While BudgetLink can report on many more years than MYOB, future dated transactions far into the future can cause issues with the balance sheet reports. These are typically incorrectly entered in the first place (e.g. transactions in the year 2024 when the current financial year is 2015).

Find future dated transactions in MYOB AccountRight Live

To identify the problem future dated transactions in MYOB AccountRight Live, follow these steps.

1. From the MYOB Command Centre, click on the Accounts tab and then on Reports;
2. Select the Account Transactions [Accrual] report under Accounts;
3. Enter the first date of the next financial year (e.g. 01/07/2015);
4. Enter a date far into the future (e.g. 01/01/2100 or 01/01/6999);
5. Select All Accounts;
6. Click to Display Report.

If any transactions appear on the report, confirm if they are dated correctly or not. Most likely, the date has been entered correctly.

Once the transactions are corrected, run a Full Get Data in BudgetLink and confirm if the balance sheet figures are correct.

Related Topics

• Troubleshooting Report Problems