transaction error

bobcf220346

My bank statement and MYOB statement balance differ by $9600. I believe this is because I have a current balance of $9600 with a supplier which is incorrect and needs to be deleted. How do I get rid of this incorrect figure so that it is deleted from the supplier's Current Balance and no longer appears in my bank reconciliation.

CloverQ

Hi @bobcf220346 

 

The current supplier balance is made of the transactions recorded for the supplier and the opening balance, if you already know which transaction this $9600 amount is from, deleting/reversing the transaction then re-record it correctly if needed would be the way to go. 

 

However, the supplier balance is the amount yet to be paid while the bank statement shows payments already made, they are used in different reconciliations. The supplier balance is used in Payable reconciliations, while the bank statement is used in bank reconciliation. I would suggest following these Help articles to check both reconciliations in your company file respectively:

 

Reconciling your bank accounts

Receivables, payables or inventory out of balance

 

If you have any further questions please feel free to let us know.