Bank reconciliation report for 30th June shows incorrect outstanding amounts

Question

Hi, I want to print out bank reconciliation reports for 30th June. I reconcile regularly and two of the accounts are showing incorrect 'Expected Balance on Statement' amounts.  The 'Accountright balance on 30.06.20' is correct, but MYOB is showing showing cheques and deposits as being outstanding and then adding and subtracting them from that Accountright balance. The amounts have been reconciled though, and aren't outstanding.

I've never seen this before, is it happening to anyone else? Is it possible that it's because the account was not actually physically reconciled ON 30th June? If so, why?

Thanks for your help :)

Tracey_H · Accepted Answer

Hi @sal2107

Thanks for your post. I would start by going to Banking>>Reconcile Accounts>>Enter in the Last Statement Date in the Bank Statement Date and also add in the closing balance on that previous statement in the Closing Statement balance. Make sure that you have no transactions ticked in the Cleared section. If there is an Out of balance appearing then we know that something is incorrect in the previous reconciliation.

Typically an out of balance would be due to a transaction(s) being changed causing it to become unreconciled. This help article has detailed information on finding and resolving bank reconciliation problems: Resolving out of balance bank reconciliations

Please let me know if you need further help.

If my response has answered your enquiry please click "Accept as Solution" to assist other users find this information.