Forum Discussion

charteris's avatar
2 years ago

Duplicated bank feed - bank reconciliation showing incorrect amounts

Hi guys,

 

I'm reconciling bank transaction from FY2022 (April 2021-March 2022) and I've noticed heaps of duplicate transactions over a random 2 month period. 

 

There are no duplicates before or after that period. And they are definitely duplicates (not just transactions that look similar). For example two withdrawals at the supermarket for the exact same amount, e.g. $325.48.

 

I'm 99% sure it's a bank feed error (rather than an manual import error) because the transaction before and after were bank feeds, not manual imports. 

 

Also, I've checked the reconciliations. There are no bank reconciliations yet, but when I try to do one, MYOB is saying that it is perfectly reconcilied ($0 out of balance) however the amount doesn't match up to what was actually in my bank account on that date (31 March 2022).

 

Which also means that, if I delete the duplicate transactions in MYOB, then it will say that my balance is no longer reconciled. 

 

How do I fix these duplicate transactions and incorrect bank reconciliation amount?

 

(P.S. There are HEAPS of duplicate transactions, I don't want to have to go through and manually delete every one! That's why I pay a monthly fee, so I don't have to do it manually!!!)

 

Any ideas or suggestions?

 

Thanks in advance,

Bex

4 Replies

Replies have been turned off for this discussion
  • Hi charteris 

     

    Thanks for your post. So that I can assist I'll need to clarify some information. 

     

    1. are the duplicates in the Bank transactions window or the Reconcile accounts window? If they're in the Reconcile accounts window they are MYOB Essentials transactions so you will need to delete them.
    2. in the Reconcile accounts window are you manually entering the closing balance from your bank statement at the reconciliation date into the Closing bank statement balance field? So if you're reconciling to the 31 March 2022, enter that as the reconciliation date and the closing balance from your bank statement on that date. Make sure only transactions that appear on the bank statement are ticked, does the account reconcile?
    3. if they are duplicate MYOB Essentials transactions are you allocating transactions that have been manually recorded as this will create a duplicate? If you have manually recorded a transaction you need to match it to the bank transaction. If you haven't recorded a transaction you can allocate it which will automatically record the MYOB Essentials transaction.
    4. if they are duplicate transactions in the Bank transactions window, have you manually imported transactions for accounts that have bank feeds? This will cause the transactions to be duplicated and you will need to delete the imported bank statements.

    Please let me know how you go.

     

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

    • charteris's avatar
      charteris
      User

      Hi Tracey, thanks for your reply. 

      My responses to your questions below:

       

      1. are the duplicates in the Bank transactions window or the Reconcile accounts window? If they're in the Reconcile accounts window they are MYOB Essentials transactions so you will need to delete them.

       

      >>> They are in the bank transactions window only. When I go into reconcile, they are not there (i.e. MYOB is saying they have been auto-reconciled correctly)

       

      2. in the Reconcile accounts window are you manually entering the closing balance from your bank statement at the reconciliation date into the Closing bank statement balance field? 

       

      >>> No, I am not manually entering the amount in the Reconcile Accounts window. MYOB auto-reconciles each account and says that it is correct (when it is not). See attached screenshot. The calculated bank balance is incorrect.

       

      2b. So if you're reconciling to the 31 March 2022, enter that as the reconciliation date and the closing balance from your bank statement on that date. Make sure only transactions that appear on the bank statement are ticked, does the account reconcile?

       

      >>> I haven't tried entering the reconciliation amount manually. Seems to defeat the whole point of having an automatic system! I just logged in to have a look and I can't see any way to manually enter the amount. But I guess that could work, in theory. How would I do that?

       

      3. if there are duplicate MYOB Essentials transactions, are you allocating transactions that have been manually recorded as this will create a duplicate? If you have manually recorded a transaction you need to match it to the bank transaction. If you haven't recorded a transaction you can allocate it which will automatically record the MYOB Essentials transaction.

       

      >>> I don't have any manually recorded transactions. I rely completely on bank feeds.

       

      4. if they are duplicate transactions in the Bank transactions window, have you manually imported transactions for accounts that have bank feeds? This will cause the transactions to be duplicated and you will need to delete the imported bank statements.

       

      >>> No, I don't think I have any manually imported transactions. The transactions before and after this period are fine. It's just these random two months that have gone wrong!

       

      Thank you for your help so far!

      Any other suggestions?

      • Tracey_H's avatar
        Tracey_H
        Former Staff

        Hi charteris 

         

        My apologies, I thought you're using the newer MYOB Essentials platform but it's the original platform so you're correct that you can't manually enter the Closing bank statement balance.

         

        Can I get you to send me screenshots of the Bank transactions window and the Bank reconciliation window by private message so that I can look into this for you.