Hi there.

I've been using Business Basics for a little for 5/6 months now. Am quiet happy with it so far. Recently I noticed that in Accounts List the "Trade Debtors" account was negative and significantly high. I am not sure what this account means, but I understood it to be the sum the open invoices. However the sum is higher than the open invoices. I looked through the Account Transactions and noticed that I had some pre-conversation sales from the previous year, and they were listed twice in the Credit Column. Anyway, I just wanted to understand if this is normal?

Another thing that is bugging me is that I cannot figure out a way to change the text colour in the Invoice. Bleh!

Thanks in advance.

quote:

I looked through the Account Transactions and noticed that I had some pre-conversation sales from the previous year, and they were listed twice in the Credit Column. Anyway, I just wanted to understand if this is normal?

It doesn't seem to be normal to me. You might have to check for the integrity of the data. Say yes when this question comes up when you first open the file.

I haven't done this function with other accounting software but MYOB. Try it and let us know what happens.

quote:

I haven't done

I have done, sorry!

Hello there, thanks for replying.

I click Yes every time I start MYOB. The data integrity is ok.

*confused*

It does not sound like an integrity issue. It sounds like some linked accounts may not have been set up right or?

The trade debtors account is an asset account or ??? what number does it start with? Is it showing a check in the linked account column in the accounts list?
And it has a negative - in parentheses - total?
The pre-conversation sales listed are credits - are the other items all debits or ??? and what sort of transaction are the others?


Dan

Hi Dan,

Thanks for getting back. After much mucking around and subsequent soul searching, I have some answers for your questions! I apologise for being late, could not find time.

1. Yes, the trade debtors account is an asset account. The account number starts with 1-..
2. Yup, the total is in negative for this account.
3. Ok now in the transaction list the pre-conversion sales are listed in Debits and Credits. There are two entries in Debits, one for sale and one for GST. Then there is a entry in credit for the sum of the two amounts on the same day as the sale (June 08 sometime). I think this is incorrect because the payment wasn't received on that day, and there is an ACTUAL payment entry for when the payment was made (which is this financial year). So there seems to be two entries in the column for the same pre-conversion sale - one has a memo "Pre-Conversion Sale" and the other "Payment".

So at least at the end of July 08, is showing Credit amount which is the sum of the open invoices as of June 08. I have to check it month by month though. But not sure how to fix it.

*Confused*

Ok I have had a look and summed up all the numbers too. I believe the Trade Debtors account should show a positive number, but it doesn't. I think that's because somehow there is double entries in the credit column for the pre-conversion sales, one when the sale occurred and one when the payment was made. If I remove the dual credits, the balance equates to the amount of my open invoices, which is correct.

Is there a way to remove these double entries?

It had been a long time since I started our books in MYOB I had to go back and look at an old copy or our books (it would help if the sample widgets file contained things like this, but it does not).

If each of your pre conversion purchase/sale has the credit and debit on the same day and clicking the arrow at left to dig into the transaction come up with the SAME THING then that is correct.
Here is why: With either the easy set up wizard or manually doing it from the setup menu - one step is to set all the account starting point balances as of the beginning of your "conversion month". Once that is done the account will already has the correct total. Now you do the pre conversion transaction entries so you have a history to pay bills from and collect money from customers. This history you build must not change the account overall total because you should have already entered that. Thus it does a special net zero entry.

I remember in setup process it shows if the account is out of balance at the bottom and in balances what is left to be allocated but I don't know if the #s still work once you have moved past the setup phase and paid and collected on those.

Look at your Setup: Balances: account opening balance to see that those are correct. Assume the pre conversion duplicates are correct but do check that the payments are Credits for Accounts Receivable. Also check that your regular current sales are Debits and that payments for those are Credits. Finally check that there are not any other transactions other than the pre conversion, a historical balance, and then the sales and payments - as a linked account any transaction manually coded into it will upset the balance that MYOB is trying to track.


Dan

Yes! Thank you!

I checked the opening balance for the traders account ant it was zero. Changed it to the sum of the open invoices and everything is now hunky dory. I must ahve assumed during setup that when I entered the open inovoices, it would automatically modified the trade debtors account.

But anyway, thank you very much for your help and going through the troulbe of looking at your books. I did not realise you have written books on myob! What are they titled?

Thanks.

Ha ha! Whether you were trying to be funny or not... Thanks for the laugh.
I meant our company accounting books in MYOB
I have not written any books on or about MYOB.


Dan