Prepare bank deposit with funds shown in opening balance

Question

We started a new Myob file at the beginning of the FY and had an opening balance for the undeposited funds account. The opening balance amount is not showing up in the 'Prepare Bank Deposit' screen which means I can't deposit the correct amount. How do I fix this and retain the correct account balance?

Celia_B · Answer

Hi @CarolDuncan,

Thank you for getting back to us and providing an update. I understand how important this is to you to resolve this issue. Please accept my apologies for not totally understand your concern and thank you so much for the clarification. In this regard, I agree with you. you can deposit the amount either by general journal or transfer money.

Let us know if you need further assistance, We are happy to assist you.

Thanks,

Cel

CarolDuncan · Answer

I think I may just have to do the bank deposit as is and then do a journal for the remainder ie. what was entered as an account opening balance.

CarolDuncan · Answer

Hi @Celia_B,

Thanks for your reply. I don't think I have explained myself well enough.

When setting up a Myob file, there are opening balances entered (unless a new business). We had undeposited funds in our old system, so there was an 'undeposited funds' opening balance entered ie. we received the funds before setting up this file ie. before 1/7/23.
I have taken all the undeposited funds to the bank now and am unable to create a bank deposit because the opening balance amount is not there, only the funds received since 1/7/23. If I tick all of the deposits, the deposit amount is short the account opening balance amount. I've attached a screenshot. The account opening balance amount is $1,228. The deposit should equal $1,228 plus all the deposits seen in the screenshot.

Screenshot 2023-10-04 142033.jpg