nav[aria-label="Primary Navigation"] { padding: 0; & ul { list-style: none; width: 100%; display: flex; flex-direction: row; justify-content: start; align-items: start; gap: 30px; padding: 0; & li { margin: 0; } & ul li { list-style: none; } } }

Unable to reconcile accounts/bank statment end of month due to MYOB online payment

Limor

30/12/2025 Deposit of $855.50 into Undeposited funds account

31/12/2025 Amount appeared in bank statement and payment registered against invoice

Only

7/01/2026 Withdrawal of amount from Undeposited funds account

Consequently when I try to reconcile at 31/12/2025 I am out by $855.50.

What can I do?

Thank you

Find more posts tagged with

Accepted answers

Genreve_S

Hi @Limor,

Thank you for clarifying the dates. I’ve checked this in more detail, and what you’re seeing is expected with Online Payments.

The date in MYOB is derived from the payment provider’s settlement date, which may differ from the bank feed date (e.g., 31/12 vs 07/01) due to cut-off times/weekends. That settlement date in MYOB can’t be edited.

Realistically, you’ve got two choices:

Simple option:
Leave the MYOB entry dated 07/01/2026 and reconcile it in your January bank rec (even though the bank shows 31/12). That keeps everything linked correctly.
If your accountant really needs it in December:
They can use a journal to shift the impact into December for reporting purposes, but still leave the original online payment/settlement as-is.

You just can’t change the actual online payment/settlement date in the software.

Cheers,

Genreve

All comments

Edwina

Hello,

Just jumping in here as I am also doing bank reconciliations and finding that there is a discrepancy between when the MYOB funds appear in my bank account and when MYOB records the bank deposit also which is causing issues at end of month.

It doesn't seem reasonable to me that the transaction dates don't match and I do not seemingly have any control over when MYOB changes the payment from Undeposited to Cheque Account. Please correct me if I am wrong?

in my example:

Customer pays $545.65 on 30th October via MYOB (into Undeposited Funds Account along with MYOB fees)

Bank Statement records a credit of $545.65 on 31st October into Cheque Account

MYOB changes status from Undeposited Funds into Cheque account on 2nd November.

How can i fix this? This was not ever an issue before I don't understand what has changed.

Limor

Okay - thanks for looking into this. The simple option will do. Just hope I don't have the same issue at 30/6!

Genreve_S

Hi @Limor,

Thank you for clarifying the dates. I’ve checked this in more detail, and what you’re seeing is expected with Online Payments.

Realistically, you’ve got two choices:

Simple option:
Leave the MYOB entry dated 07/01/2026 and reconcile it in your January bank rec (even though the bank shows 31/12). That keeps everything linked correctly.
If your accountant really needs it in December:
They can use a journal to shift the impact into December for reporting purposes, but still leave the original online payment/settlement as-is.

You just can’t change the actual online payment/settlement date in the software.

Cheers,

Genreve

Limor

Hi Genreve

Thanks for the response

Perhaps I didn't explain clearly enough.

The payment was deposited by MYOB into the bank account on 31/12/2025, so is included in the closing balance.

it came through in the bank feed dated 31/12/2025

but when I run the reconciliation it is dated 7/1/2026.

Genreve_S

Hi @Limor,

It looks like the timing of your bank rec doesn’t line up with when the money moved out of Undeposited funds.

Quick rundown:

On 30/12/2025, the invoice was paid, and the $855.50 went into Undeposited funds (not straight to the bank).
On 07/01/2026, MYOB created a settlement/bank deposit that moved the $855.50 from Undeposited funds into your bank account.

So at 31/12/2025, it’s normal for Undeposited funds to still show $855.50 – that’s just transit money and doesn’t need to be $0 to reconcile.

For your 31/12/2025 bank rec:

Set the statement date to 31/12/2025 with the correct closing balance.
Only tick transactions dated on or before 31/12/2025 that actually appear on that statement.
Don’t tick:
- The online payment is sitting in Undeposited funds (it’s not a bank transaction), or
- The 07/01/2026 settlement/bank deposit for $855.50 – that one gets picked up in your January rec.

When you reconcile January, you’ll then tick that 07/01/2026 settlement against the bank feed line for $855.50.

Regards,

Genreve