Bank Reconciliation - Calculated closing balance problem
I have recently set up MYOB Business Lite for a small non-profit. The previous Treasurer of the organisation was maintaining handwritten books. I have encountered what appears to be an error with the calculated closing balance of a bank account.
The non-profit opened and deposited $141.50 into a bank account on 16/11/2018. Accordingly, after entering the deposit as Receive Money, the calculated bank balance for 16/11/2018 should be $141.50. However, MYOB is presenting a calculated closing balance of -$8,958.14. I need to figure out why it is doing this and fix it. It is stopping me from being able to reconcile the bank account.
Hi campaignr
Sorry to see that no one has replied to you yet. If you go to Accounting>>Chart of accounts>>open that account, is there an Opening balance?
If you're still having problems with this can you please send me screenshots in a private message.