If your conversion month (that is, the month you begin using Accounting Plus) isn't the first month of your financial year, you should enter the balances of all your accounts. If you or your accountant has a trial balance report for the month prior to your conversion month, the ending balance for each account for that month will be its opening balance in Accounting Plus. If you don't have a trial balance report, you can use the amounts on a current balance sheet for your asset, liability and capital accounts' opening balances; you can use the amounts on a year-to-date profit and loss statement for your income, cost of sales and expense accounts' opening balances.
Accounting Plus includes an capital account for your current-year earnings. The opening balance for this account is calculated automatically. Although this account doesn't appear in the Account Opening Balances window, don't worry -- it does exist. Since Accounting Plus will track these amounts automatically, you don't need to create a current-year earnings account and enter a balance for it.
If you plan to use Accounting Plus's stock features, don't enter an opening balance for the account you intend to use to track the value of your company's stock items. You'll enter this account's opening balance when you set up your items in MYOB Accounting Plus. For information about creating items, refer to the Stock section of MYOB Help. (To view Help, choose MYOB Help from the Help menu.)
Enter your account balances as positive numbers. (Don't, for example, enter asset amounts as positive numbers and liability amounts as negative numbers.) Accounting Plus knows whether each account should have a debit or credit balance. Enter a negative amount only if an account has a negative balance.