<?xml version="1.0" encoding="utf-8"?>
<!DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd">
<html xml:lang="en" lang="en" xmlns="http://www.w3.org/1999/xhtml">
  <head>
    <!-- Start Webworks code in head section-->
    <meta http-equiv="Content-Type" content="text/html;charset=utf-8" />
    <meta http-equiv="Content-Style-Type" content="text/css" />
    <!-- saved from url=(0014)about:internet -->
    <title>Accounts Easy Setup Assistant—Enter your opening balances</title>
    <link rel="StyleSheet" href="" type="text/css" media="all" />
    <link rel="StyleSheet" href="css/webworks.css" type="text/css" media="all" />
    <link rel="StyleSheet" href="document.css" type="text/css" media="all" />
    <script type="text/javascript" language="JavaScript1.2" src="scripts/expand.js"></script>
    <script type="text/javascript" language="JavaScript1.2" src="scripts/seealso.js"></script>
    <script type="text/javascript" language="JavaScript1.2">
      <!--
        var  WebWorksRootPath = "";
      // -->
    </script>
    <script type="text/javascript" language="JavaScript1.2">
      <!--
        		var  WebWorksSeeAlso = "xxx";
		      // -->
    </script>
    <!-- End Webworks code in head section-->
    <!-- Start custom CSS for layout-->
    <style>	
		#topborder {
		position : absolute;
		top: 0px;
		left:0px;
		width : 100%;
		height: 36px;
		background-color: #E4F1F8;
		padding: 0px;
				}
		#navigation {
		position : absolute;
		clear: right;
		top: 90px;
		width : 20%;
		left: 10px;
		border-right:3px dotted #C2DDF3;
		padding : 1px;
		overflow: hidden;
		}
		#content {
		margin-top: 42px;
		margin-left : 23%;
  		padding : 1px;
		}
		</style>
    <!--End custom CSS for layout-->
  </head>
  <body style="">
    <!--ZOOMSTOP-->
    <!--Above is code to tell the search engine to not index top matter-->
    <div id="topborder">
      <!--Start navigation buttons and company info at top of page-->
      <div style="text-align: left;">
        <table height="32px" cellspacing="5" summary="" align="right">
          <tr>
            <!--TOC is suppressed because of left navigation 
		  <td wwpage:condition="navigation-toc-current">
            <img src="images/tocx.gif" wwpage:attribute-src="copy-relative-to-output" alt="Table of Contents" wwpage:attribute-alt="navigation-toc-title" border="0"/>
          </td>
          <td wwpage:condition="navigation-toc-not-current">
            <a href="toc" wwpage:attribute-href="navigation-toc-link"><wwexsldoc:NoBreak /><img src="images/toc.gif" wwpage:attribute-src="copy-relative-to-output" alt="Table of Contents" wwpage:attribute-alt="navigation-toc-title" border="0" /></a>
          </td>
		  End comment for TOC suppression-->
            <!--Previous/next buttons are suppressed because of left navigation 
         <td wwpage:condition="navigation-previous-exists" valign="top"> 
		 <a href="previous" wwpage:attribute-href="navigation-previous-link"><wwexsldoc:NoBreak />
		<img src="images/prev.gif" wwpage:attribute-src="copy-relative-to-output" alt="Previous" wwpage:attribute-alt="navigation-previous-title" border="0" />
		</a> 
        </td>
          <td valign="top" wwpage:condition="navigation-previous-not-exists">
            <img src="images/prevx.gif" wwpage:attribute-src="copy-relative-to-output" alt="Previous" wwpage:attribute-alt="navigation-previous-title" border="0" />
          </td>
          <td wwpage:condition="navigation-next-exists" valign="top">
            <a href="next" wwpage:attribute-href="navigation-next-link"><wwexsldoc:NoBreak /><img src="images/next.gif" wwpage:attribute-src="copy-relative-to-output" alt="Next" wwpage:attribute-alt="navigation-next-title" border="0" /></a>
          </td>
          <td wwpage:condition="navigation-next-not-exists" valign="top">
            <img src="images/nextx.gif" wwpage:attribute-src="copy-relative-to-output" alt="Next" wwpage:attribute-alt="navigation-next-title" border="0" />
          </td>
		  		  End comment for Previous/next button suppression-->
            <a name="top"></a>
            <td valign="top">
              <a href="ix.html"><img src="images/index.gif" alt="Index" border="0" /></a>
            </td>
            <td></td>
            <td>
              <form method="get" action="searchhelp.htm" align="right">
                <input type="text" name="zoom_query" size="20"></input>
                <input name="submit" type="submit" value="Search" size="60"></input>
              </form>
            </td>
          </tr>
        </table>
      </div>
      <table summary="">
        <tr>
          <td class="WebWorks_Company_Logo_Top">
            <img src="images/logo.gif" />
          </td>
        </tr>
      </table>
    </div>
    <!--End navigation and company info at top of page-->
    <!--Start container for all content-->
    <div id="content">
      <br />
      <div class="WebWorks_Breadcrumbs" style="text-align: left;"></div>
      <!---Index image-->
      <!---Index image-->
      <!--ZOOMRESTART-->
      <!--Above is code to tell the search engine to start indexing after this line-->
      <blockquote>
        <div class="ho_OverviewHeading"><a name="818674">Accounts Easy Setup Assistant</a>—Enter your opening balances</div>
        <div class="b_Body"><a name="818675">Unless you've just started a new business, most of your accounts probably already have balances</a>—you've made sales, paid bills, perhaps bought inventory and conducted a variety of other business activities that affect accounts' balances. </div>
        <div class="b_Body"><a name="837518">In this step, you'll enter your opening balances as at your conversion date. For example, if you've deposited </a>money in your business's cheque account, you will enter that account’s opening balance as at your conversion date.</div>
        <div class="b_Body"><a name="830765">You're not required to enter account balances in order to use your MYOB software, but your financial records </a>will not be accurate until you do enter them.</div>
        <div class="hr_RunInHeading"><a name="835227">What is your conversion month?</a></div>
        <div class="b_Body"><a name="830716">Enter the balance amounts as at the last day prior to your conversion </a>month (that is, the month you begin using your MYOB software). If the current month is your conversion month and you've made some transactions already this month (sales or purchases, for example), don't include those transactions in your accounts' opening balances. Instead, enter these amounts using the transaction windows in your MYOB software, to ensure that you have a complete record of your business activities for the month.</div>
        <div class="b_Body"><a name="830198">The types of accounts that you’ll enter opening balances for depend upon whether your conversion month is </a>the first month of your financial year or whether it is another month of your financial year. Choose the information that is correct for your company file:</div>
        <div class="bb_Bulleted_outer" style="margin-left: 0pt;">
          <table border="0" cellspacing="0" cellpadding="0" summary="">
            <tr style="vertical-align: baseline;">
              <td>
                <div class="bb_Bulleted_inner" style="width: 14.1732pt; white-space: nowrap;">
                  <span style="color: Gray;">■</span>
                </div>
              </td>
              <td width="100%">
                <div class="bb_Bulleted_inner"><a name="830203">If your conversion month is the first month of your financial year, enter the opening balances of all your </a>asset, liability and equity (capital) accounts.</div>
              </td>
            </tr>
          </table>
        </div>
        <div class="bb_Bulleted_outer" style="margin-left: 0pt;">
          <table border="0" cellspacing="0" cellpadding="0" summary="">
            <tr style="vertical-align: baseline;">
              <td>
                <div class="bb_Bulleted_inner" style="width: 14.1732pt; white-space: nowrap;">
                  <span style="color: Gray;">■</span>
                </div>
              </td>
              <td width="100%">
                <div class="bb_Bulleted_inner"><a name="830400">If your conversion month isn't the first month of your financial year, enter the opening balances of all your </a>accounts.</div>
              </td>
            </tr>
          </table>
        </div>
        <div class="hr_RunInHeading"><a name="835234">Enter positive numbers</a></div>
        <div class="b_Body"><a name="830773">Enter your account balances as positive numbers. (Don't, for example, enter asset </a>amounts as positive numbers and liability amounts as negative numbers.) You should only enter a negative amount if an account actually has a negative balance. </div>
        <div class="hr_RunInHeading"><a name="830755">Why is there an “Amount left to be allocated”?</a></div>
        <div class="b_Body"><a name="835239">If an amount appears in the “Amount left to be allocated” </a>field, your accounts are out of balance. This could be because you haven’t entered all of your account balances, or an amount has been entered incorrectly. </div>
        <div class="b_Body"><a name="837601">If you are unable to balance the accounts, speak to your accountant. If you have an amount in the “Amount left </a>to be allocated” field, it is automatically assigned to the Historical Balancing account. When you balance the accounts later, the amount in the Historical Balancing account will automatically return to zero.</div>
        <div class="hr_RunInHeading"><a name="835298">What is the Historical Balancing account?</a></div>
        <div class="b_Body"><a name="835285">The Historical Balancing account is used during the setup </a>process to track the difference between the opening balances you enter for your asset accounts and the opening balances you'll enter for your liability and equity accounts. </div>
        <div class="b_Body"><a name="835313">In traditional accounting terms, assets should always equal liabilities and equity (capital); This account enables </a>you to continue using your MYOB software even if your beginning balances aren't balanced. Note that you won’t see the Historical Balancing account in this window, but it will appear in your Accounts List as an Equity (Capital) account.</div>
        <div class="Sample_heading"><a href="1430300c-03.htm#836343" name="837467">Tips for this window</a></div>
        <div class="href_ReferenceBlockHeading"><a name="837471">Related topics</a></div>
        <div class="bbi_BulletedIndented_outer" style="margin-left: 14.1732pt;">
          <table border="0" cellspacing="0" cellpadding="0" summary="">
            <tr style="vertical-align: baseline;">
              <td>
                <div class="bbi_BulletedIndented_inner" style="width: 9.9216pt; white-space: nowrap;">
                  <span style="color: Gray;">■</span>
                </div>
              </td>
              <td width="100%">
                <div class="bbi_BulletedIndented_inner"><span class="l_Link"><a href="companyfile.4.7.htm#1091721" name="838142">Enter account opening balances</a></span></div>
              </td>
            </tr>
          </table>
        </div>
        <div class="bbi_BulletedIndented_outer" style="margin-left: 14.1732pt;">
          <table border="0" cellspacing="0" cellpadding="0" summary="">
            <tr style="vertical-align: baseline;">
              <td>
                <div class="bbi_BulletedIndented_inner" style="width: 9.9216pt; white-space: nowrap;">
                  <span style="color: Gray;">■</span>
                </div>
              </td>
              <td width="100%">
                <div class="bbi_BulletedIndented_inner"><span class="l_Link"><a href="companyfile.4.5.htm#1091452" name="838146">Set up accounts</a></span></div>
              </td>
            </tr>
          </table>
        </div>
      </blockquote>
    </div>
    <div style="font-family:Arial, Verdana;font-size:x-small;text-align: right;">
      <a style="color:gray" href="#top">Top of page</a>
    </div>
    <!--End container for all content-->
    <!--Start container for left navigation-->
    <div id="navigation">
      <script type="text/javascript" src="scripts/quickmenu.js"></script>
    </div>
    <!--End container for left navigation-->
    <!--Start stuff at bottom of page-->
  </body>
</html>