Help with reconciling simple bank account

Hi CLM20,

Let's check out a few things that might be messing with the closing statement balance! We need to figure out what's causing the discrepancies first.

• Balance Check: Double-check the closing balance of your previous quarter's statement and make sure it matches your current quarter's opening balance. If there's a difference, it might mean you've got some missing or doubled transactions
• Transaction Hunt: Look out for any missing, duplicated, or unmatched transactions. These could be throwing off your reconciliation process
• Settings Review: Ensure all your bank account and transaction settings are correct. This includes making sure transactions are properly categorized and there are no unexpected defaults (like transactions going to the wrong categories)
• Reconciliation Redo: Try undoing the last reconciliation and redoing it to see if that fixes the problem.

If these steps don't resolve the issue, it's probably best to contact our support team for a detailed check on your reconciliation issues. You can find all our support options on here.

Cheers,

Princess

Thank you Princess, I did find the problem. An invoice had been added twice and to make it worse - it had been paid twice.
So in my ignorance, I deleted one of the payments but also un-reconciled the previous month (which had reconciled!). 
Now of course I cant reconcile the previous month because the payment I deleted (which had been closed off) now does not show on the bank statement.

So all in all I think I have made a pretty good mess of it.

Any ideas?

So sorry - Carolyn 

Hi CLM20, 

If you recorded two different payments, removing one to correct it shouldn't cause any issues. Here’s a good checklist to follow:

1. Check if all transactions for that bank account's statement/bank feed match the transactions you have in the file.
2. Make sure those transactions are correctly matched to the corresponding bank statement transactions in the bank transactions window (ensure they aren’t marked as checked in the bank transactions window or part of a previous reconciliation before doing this step).
3. Reconcile your accounts normally by checking the bank statement transactions and ensuring they appear in the reconcile accounts window.

Hope this helps!

Regards,
Genreve

Thank you Genreve but the payment now does not show up on the bank statement and I dont know how to get it to appear again.

The invoice is still there and says it is closed off but not showing up on the bank statement.

C

Hi CLM20,

Since you're still having issues with the payment not appearing on the bank statement, it best to reach out to our amazing team on Live Chat via our virtual assistant, MOCA, or by submitting a support case via MyAccount. 

Cheers,

Doreen

Thanks Doreen, what sort of support do they offer?

C

Hi CLM20,

These other supports aim to provide quick access to help and addressing a variety of concerns related to MYOB products. You can check this community forum post to see how it works.

Cheers,

Shella

Thanks - is it possible to restore my myob lite file to a previous point that myob has saved it to?

C

Hi CLM20,

When you restore a company file online in your MYOB Business Lite, your online working company file is replaced by the backup file. Any changes you’ve made to the online company file since the backup file was created will be overwritten. See this link about restoring you company file for more information.

Regards,

Shella

It appears that you are noticing a difference between your closing balance on your last bank statement, and your opening balance on your current bank statement in Account Lite. To troubleshoot this issue, first check that all of your transactions from your last period have all been correctly matched and checked off, as an unmatched transaction can throw out your reconciliation balance. Double check that the opening balance in the current period of your bank statement is identical to the opening balance of the reconciliation in Account Lite. If you identified any manual entries or import mistakes, this could be an issue. Make sure to also check to see if your previous reconciliation had any unidentified transactions or adjustments; and to see if you accidentally missed any bank fees or other charges. If you still can't find the problem, it may be worth contacting MYOB support to get to the bottom of your discrepancy.