Setting up my myob account

Thula1

Hie everyone

 

I was setting up the business account and then I allocated 46 transactions but now the bank balance is out of balance. I can also see some transactions like GST liabilities whilst I have not started selling anything.

 

Where did I miss it.

 

Thank you for your help.

 

Kind regards

Nokuthula Sibanda

 

 

SamaraM

Hi @Thula1 

 

There are a few reasons why you might be getting an Out of Balance. Here are some things to look out for:

• Check that your account opening balance doesn't include any uncleared transactions. If it does include uncleared transactions, change the account opening balance.
• Check the correct figure is in the Closing bank statement balance field.
• Check the correct date from the bank statement is entered in the Bank statement closing date field.
• Check all the transactions that appear on the bank statement are selected. If not, some transactions might not have been accounted for in the reconciled balance.

• Check if there are any transactions that didn’t appear on your bank statement have been selected. If it is, you need to deselect those transactions.

 

Please let me know if you need further help after checking the above. If you do still have the out of balance, responding with screenshots will help.

 

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