My bank statements won't balance either even though all entries correspond with all entries on MYOB file??? Last statement reconcilled perfectly when I did it, but if I go and check it now it doesn't look like it did? Really strange! Did an update this morning, am wondering if this update is causing problems?
HELP!!
Thank you for your post. Please allow me to extend you a warm welcome to the Community Forum. I hope you find plenty of information in this forum.
Regarding your concern, if bank reconciliation shows out of balance, we recommend to do a future-dated reconciliation to check if this will resolve the issue in out of balance. If doesn't work, you will need to undo the previous reconciliations were showing the out of balance and then redo the reconciliations. For more information, check out this Help Article: Fixing out-of-balance bank reconciliation.
Let us know if you need further assistance. We are happy to help.
If my response has answered your enquiry, please click "Accept as Solution" to assist other users find this information.
Kind Regards,
Cel
**Even when attempting to reconcile based on historical data (01/11/1753) or a future date (31/12/8999), the same out-of-balance amount is still being displayed.
Furthermore, the current balance and ending balance are showing as two different figures in the chart of accounts and bank reconciliation account.
Please check and give a solution for the same.
Hi CCC3,
Thank you for getting back to us and providing an update.
I am sorry to hear that you are having difficulty in your reconciliation. Basically, when you are reconciling a bank account, an out balance amount tells you that something is not quite right, you will need to determine if your out of balance is caused by your current reconciliation or a previous reconciliation. Please refer to this Help Article: Fixing out of balance in bank reconciliation. This has a detailed information and process that can help you with the issue.
If you still need assistance, please do not hesitate to contact us again. We are more than happy to help.
If my response has answered your enquiry, please click "Accept as Solution" to assist other users find this information.
Kind Regards,
Cel
This is not the optimum solusion for the this case. Thanks
Hi CCC3,
Thank you letting us know. We appreciate your effort in providing screenshots.
A couple of reasons that the bank-calculated balance differs from the actual bank statement or bank feed balance could be due to a transaction being reconciled that does not appear on the statement or a transaction that had been reconciled has subsequently been deleted.
Could you please look at the reconciled accounts and see if any transactions are not reconciled? If you find any checks to see if they are genuine transactions (if they appear in the bank statements), you need to manually reconcile them by ticking the box. If this does not help, find a transaction report from the bank for $-44,595.84, then check each of these to see if they appear on the bank statement. This may identify the entry that is putting your balance out.
Or you can change the reconciliation date to the end of the previous bank statement and change the balance to the bank balance as of that date. This is to check if there are any unreconciled amounts unless there were unpresented checks at the time, it should be clear of transactions. If this is all good, then manually reconcile your bank account. Ensure that all transactions are unticked.
I hope this helps you resolved the issue. If you still need further assistance, please contact us again or create a new post. We are happy to help
If my response has answered your enquiry, please click "Accept as Solution" to assist other users find this information.
Kind Regards,
Cel
Thank you for your response.
But it is not relevent to this case.
There is no transaction before 19/12/2022 mentioned bank account.
But still this -$44,595.84 came from no where and it's only affecting to the current balance and bank calculated balance.
Also, ending balance is different from current balance.
I have created the case #01558542 with MYOB customer service team to investigate this issue further.
Thanks
