Out of balance reconciliation

TanyaBennett

Hi, My clients account shows the correct closing balance on the trial balance and reconciles to the actual bank statement. In the reconciliation window, everything is selected, however when the correct balance is put in, there is an out of balance. Unless I reduce down the reconciliation, it wont allow. If I put a journal or amend anything, the closing bank balance is incorrect?

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Doreen_P

Hi @TanyaBennett,

 

Thanks for the screenshot. If your trial balance matches the bank statement, your bank account is behaving. The out of balance is almost always coming from something inside the reconciliation screen, not the ledger itself.

 

Some usual suspects to check:

• Unmatched transactions – bank feeds sitting there unmatched to anything in MYOB
• Data entry errors – a number or date typed in wrong
• Duplicate transactions – the same transaction recorded twice, throwing the total out
• Forgotten transactions – something on the bank statement that never made it into MYOB, or vice versa
• Deleted/edited after recon – a transaction was changed or deleted after being reconciled, which breaks the balance
• Timing differences – the transaction is in MYOB but hasn’t actually cleared the bank by the statement end date

To walk through and tidy this up step by step, we’ve got a handy link for fixing an out of balance bank reconciliation. If none of the workarounds in the link fix it on your end, you can reach out to our team so we can take a closer look with you. Make sure to contact them on Live Chat via our virtual assistant, MOCA, or by submitting a support case via My Account.

 

Cheers,

Doreen