If your conversion month is the first month of your financial year
Accounts Easy Setup Assistant > Enter your opening balances > First month of financial year

If your conversion month (that is, the month you begin using Accounting Plus) is the first month of your financial year, all you need to enter are the balances of your balance sheet accounts (asset, liability and capital 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.

The opening balance of all your income and expense accounts, as well as your Current-year Earnings account, should be zero. Additionally, the previous year's earnings should already be included in the balance of your Retained Earnings account.

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.