Bank Reconciliation now out of balance
Prior to the upgrade my last bank reconciliation was carried out on 30/9/22. Since the upgrade I am now out of balance. I have been undoing each previous reconciliation, so far back to 30/11/21 and...
Forum Discussion
Hi Simone (Mona3739)
Thanks for checking that. Can you also go to Accounting > Chart of accounts > check the opening balance for that bank account is still correct?
Can you also change the statement date to prior to 4/7/2013 (which is the date you mentioned doing your first reconciliation), and see if there is an out of balance at all?
If my response has answered your enquiry please click "Accept as Solution" to assist other users find this information.
Hi Samara,
The bank balance is incorrect on the chart of accounts.
I have changed the bank rec statement date to 30/06/2013 (we began using MYOB Essentials Online 1/07/2013) and it says our account is out of balance $439,805.97.
As explained previously, prior to the 'upgrade' our bank reconciliations were all correct and up to date as at 30/09/2022.
Regards,
Simone
Hi Simone (Mona3739)
If the opening balance is incorrect that would be the cause of the out of balance.
If you go into the chart of accounts you can edit the opening balance and put the correct value there.
If my response has answered your enquiry please click "Accept as Solution" to assist other users find this information.
The opening balance as at 01/07/2013 is correct. The current balance is incorrect.
All balances were correct as at 30/09/2022. Everything went awry when MYOB upgraded to the new dashboard. I had no issues with any out of balances prior to the move to the new upgrade.
Hi
I am having the same trouble. Since the upgrade my accounts that i have reconciled are now not balancing. I also have unreconciled transactions from the years 2017, 2021, and beginning of 2022 showing ??? how can this happen when i have reconciled and matched everything up until sept 22. I also have a lock date of june 2020 so definitely dont understand why the 2017 are now showing up.
The upgrade has caused more problems and headaches than its worth from bank transaction matchups, payroll issues and now this ..... seriously thinking of changing
Please explain ??
I am still trying to work out why my bank reconciliations are out of balance. I have undone all reconciliations back to 30/6/2020 and still out of balance. I have run the Bank Reconciliation Report and there is $311,444.36 of wages dating back to 4/07/2013 that do not have a reconciled date on them, despite being reconciled on the previous dashboard prior to the upgrade. This does not inlcude all wages, only those wages that were split between two bank accounts.
How can I fix this?
Hi Mona3739
Sorry for the delay in response. In that case, we will need to go right back and then work our way forward.To do this:
- Go to the Reporting menu and choose Reports.
- From the Banking section click to run the Banking reconciliation report.
- For the Bank statement date, enter or select the date of your previously reconciled bank reconciliation. If you're not sure of the dates, check the Baking reconciliation report (Reporting menu > Reports > Banking tab > Baking reconciliation).
- Work back until you find a month where the out of balance is zero ($0.00). This identifies that the suspect transaction(s) will have occurred in the following month.
- Identify which transaction(s) are causing the out of balance by comparing the Banking reconciliation report with the corresponding bank statement.
- Correct the transaction(s) causing the out of balance. You can open a transaction to edit or delete it by clicking its reference number.
- Re-reconcile the corrected transaction(s).
- Repeat with each subsequent reconciliation until no more out of balances are found.
If not, then move on to your next reconciliation and ensure that all the transactions that are listed in your bank transaction are the same as that in your software.
If my response has answered your enquiry please click "Accept as Solution" to assist other users find this information.
