I have posted the EOFY adjustments that my accountant gave me. But what happens to July bank rec ...

Question

onciliations that have adjustments?

I have posted the EOFY adjustments that my accountant gave me. But what happens to July bank reconciliations that have adjustments?

Doreen_P · Answer

Hi @New2AR,

You'll have two options depending on the date of the transactions included in the adjustment:

* Undo the June Reconciliation: You can undo the June reconciliation and then select the transaction to reconcile.
* Leave June as It Is: Alternatively, you can leave the June reconciliation as it is. When you do the July reconciliation, simply select the transaction and reconcile it then.

This should help you manage the reconciliation process smoothly. If you need more assistance, you also reach out directly to our live chat team via our virtual assistant, MOCA by going to myob.com/support or by submitting a case via My Account.

Best regards,

Doreen

New2AR · Answer

Hi Doreen,

Thanks for your reply, June reconciles when the adjustment GJ is ticked, not without. So it appears at the top of the cleared cheques dated 30.6.24.

July - reconciles - what has thrown me is that the accountant's adjustments don't appear on the previous years reconciliation report, should it be included/show on the June statement?

Thanks again

Doreen_P · Answer

Hi @New2AR,

You will need to review and possibly redo the bank reconciliations for July to ensure they align with the adjustments made. You can check this link for steps on resolving out-of-balance bank reconciliations.

Best regards,

Doreen