If you have purchases that resulted in an item having an on-hand quantity of less than zero

If there are one or more unadjusted Receive Items Purchases transactions in the current financial year, those transactions won't be removed from your company file when you start a new financial year in MYOB Accounting. If you start a new financial year, the adjusting entries must then be recorded in the new financial year. The adjustment will be recorded as a Stock Adjustment as at the adjusting entry date in the new financial year.

The transactions are unadjusted and won't be purged because the anticipated Cost of Sales that was recorded on the Receive Items purchase has not been adjusted by recording the actual item cost amount. Adjusting entries can be made with a purchase, an auto-build or a stock adjustment.

To avoid having the purchase recorded in the current financial year and the adjusting entry in the next financial year, simply record the adjusting entries in the current financial year.

To see a list of item receipts with unbilled items, use the Purchases Register [All Purchases] report. Highlight the report and then click the Customise button. On the Advanced Purchases tab, select Only Purchases with Received/Unbilled Items in the Item Receipts field.