Use the method shown below to extract balance sheet & profit &Loss reports from both the current (reporting) and historical (comparative) years.
First, extract the balance sheet and Profit & Loss Statement to Excel format. (Select the exact report shown)
Be sure to line up the dates with the reporting period. For tax purposes, typically 30/06/20xx. DO NOT modify any other filters.
Pay careful attention to which folder on your computer you save the file to. Use Desktop if in doubt.
Now select the Financials menu item and click on Import.
Select "MYOB AccountRight ".
Choose the saved Profit and Loss and Balance Sheet excel reports and click on UPLOAD.
You may get error for duplicate line items / accounts having same name. Please correct the same in Excel reports and re-import.
If there are any changes (ie description, amount), simply correct through the excel and re-import after you've made those changes.
Once you've imported the files, navigate to Accounts and resolve any classification errors.