Bank reconciliation Error

Question

Hi Team,

I'm having trouble trying to reconcile my bank statement according to bank statement.

See below attached bank transaction report.

The bank balance as at 28 February 2021 is $91,600.09 which is the same balance as bank transaction report

However, when I tried using "reconcile", the closing balance is $91,706.09.

I am unable to find the additional transaction of $106.00, maybe you could shed some light in this.

Thanks

Amy

bank transaction.pdf

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Amy5 · Answer

Hi Tracey,

No it didn't help. Now all the transactions from day 1 up till 18 June 2022 is all gone.

I don't know if it's a bug in MYOB essential but nothing seems to work.

The transactions are missing under "reconcile account", balance is still out, but based on the account transaction report, it is correct.

Not sure what to do next.

AC

Tracey_H · Answer

Hi @Amy5

My apologies for the delay in getting back to you. If you're still having problems with this check the opening balance entered for that account. For the first reconciliation the Calculated closing balance comes from the account opening balance plus transactions ticked in the Reconcile accounts window.

Please let me know how you go.

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

Amy5 · Answer

Thanks Tracey.

I've posted the bank balance per bank statement, and if you noticed the bank recon was never reconciled.

I have checked the banking transactions that was feed in and the banking transaction report balance tallies up to my bank statement. It's only when I use the 'reconcile' function, the calculated closing balance is out for no reason.

It could be a bug since it was my first encounter on this issue given the bank was never reconciled.

Is there a way we could solve this? It's affecting all my bank reconcilation up to date, while the banking transaction and balance sheet is showing exact bank balance per bank statement.

Amy