MYOB bank reconciliation shows $54.00 less than bank statement withdrawals

Robyn2017

I currently cannot reconcile our December 2018 bank statement because I am out of balance by $54.00 - the AccountRight withdrawals balance for December is $54.00 less than what the bank statement withdrawals balance is.  

 

I have gone through the bank statement and cross checked against AccountRight 4 times now and every transaction on the bank statement is ticked which would mean that my December reconcillation should balance as there wouldn't be any missing transactions.

 

 I have checked other scenarios such as $54 (or amounts adding up to $54.00 being entered as being paid from our credit card or petty cash - there isn't any and it isn't a case of a transaction accidentally been entered in November or January nor the bank processing a purchase made around the end of December in January.  I have balanced January bank statement (can't reconcile until I can fix December) and November bank statement has been reconciled so that's not the problem either - how can I reconcile December transactions when AccountRight is saying it's missing $54.00 that we haven't even spent?

 

 

LRBooks61

Hi Robyn,

 

Take a deep breath............

 

I am making the following assumptions

That there are no outstanding entries in your bank account

 

As you have undone your reconciliatons to the start of the last financial year,I would start by going into the reconciliation screen as at 30/6/2018 and enter the ending balance as at that date.

 

At this stage the out of balance should be 0.00. If not it would indicate that the problem is a transaction prior to June 30 2018.

 

If that reconciles correctly , then proceed reconciling every month .

 

As all your transactions are there it should be relatively easy.

 

But what I would advise you to do is to check the cleared balance as you go which will help you identify where the problem is. 

Sometimed the more you look the less you see.............

 

eg. Cleared Balance 100

deposit  250  Balance  sbe 350

withdrawal  271 balance s/be 79 .

 

If however the withdrawal was entered incorrectly as 217 the balance in myob will be 133.

 

If you mark evertthing at once you won't see where the error in the balance actually is .

 

Failing that..................there is a report inthe accounts section. Audit trail which will show you what transactions have been edited or deleted using session dates and transaction dates . This may be useful too.

 

So frustrating I know......................rememeber too that you can always lock a period once you have reconciled ( setup, preferences)

 

Hope this helps

 

good luck

 

Lisa