This support note applies to:
- AO Classic General Ledger (AU)
- AO Classic (NZ)
In MYOB Accountants Office Classic there are various reasons why this occurs after rolling over the General Ledger financial year, the main reason is the accounts are not set up correctly.
This can occur when there are accounts with the field named End of Year Rollover Type shown as blank, within the Accounts Maintenance. The program is unable to determine if the balances should be carried forward to the following year, added to another account, or have the balances completely zeroed. This can also occur if the Account Type has not been categorized as Assets, Liabilities, Expense, Revenue or Capital, within the Accounts Maintenance window.
There are two options: restore a backup prior rollover to correct the accounts setup and then rollover; or to manually journal the opening balances.
- To resolve this, firstly you will need to restore a backup prior to rolling over the ledger.
- From the Reports menu, select Chart of Accounts Reports. The Chart of Accounts Report window is displayed at Step 1 - Report Options.
- Select the List of Accounts with Invalid Parameters option. Three additional options are now activated.
Select the Invalid or undefined Account Types option then click Next.
If the report shows zero Accounts printed, then close the report and continue to the next step. If there are accounts printed, then print or take note of the accounts in the Chart of Accounts report and use this at Step 12.
- Click Preview to display the report. The report will list all the accounts within the ledger that has the Account Type set as Undefined or blank. It will also show the total number of the accounts listed in the report.
- Close the Preview window then click Back. This will return us to Step 1 - Report Options.
- Select the Invalid or Undefined End of Year Parameters, and Account Types not 'E' or 'R' options and then click Next.
- Click Preview to display the report. This report will list all of the accounts within the ledger that are not Revenue and Expense, that do not have the End of Year rollover option correctly selected. It will also show the total number of the accounts listed in the report.
Print out or take note of the accounts on the report.
If both reports shows zero Accounts printed, then close the report and try rolling over your ledger, ensure you backup your ledger before rollover. If there are accounts printed, then close the Chart of Accounts report and follow from Step 11.
- Close the report, and close the report wizard.
- From the General Ledger menu, select Accounts Maintenance. The Account File Maintenance window is displayed.
- Select one of the accounts that you noted in the previous steps. The details of this account will be displayed on the right-hand side of the window.
- Check the Account Type field. If this is blank or incorrect, then enter the correct Account Type. The account is updated.
Check the End of Year Rollover type field, update if necessary and click Apply.
If this is blank or incorrect for the Account Type, then enter the correct rollover option. For example the rollover option for an Asset, Liability or Capital should be either Balance Forward, or in some circumstances, Add to Account, it should never be None.
For Revenue and Expense accounts, this field is generally None.
Repeat steps 12-13 for any other accounts that were printed.
- Close the Account File Maintenance window.
- Repeat Steps 1 through to 8, and check the reports again. If the reports show zero Accounts printed, then backup your ledger, and rollover the financial year.
If there is no backup of the ledger prior to rollover, then you will need to manually post the opening balances batch.