New MYOB user.
Have setup same chart of accounts and imported opening balances from our previous system from the day our bank feed was setup.
I can't work out why the bank feed doesn't balance with the calculated balance.
I've reconciled all the transactions from the bank feed match whats shown in the bank.
What is going on?
Hi
I make the following suggestions
1 Check that the bank reconciles as at the opening date of the balance you entered.
Eg bank feeds started on 3rd Aug 2022
opening balance you entered was $250
Reconcile accounts 2/8/2022 should be $250 Closing bank statement and should equal closing calculated balance
If this all okay change the date to the bank statement balance and check again if it equals the closing balance.
If this does not then check the transactions that appear in that screen
Are they all ticked?
If some transactions are not ticked- verify that they are not duplicates or are they legitimate entries that haven't been matched to a bank feed
Are there any duplicated entries?
Sometimes a transaction can be coded to the incorrect bank account or doubled up.
If this doesn't help, I suggest you manually work through the bank statement and check off the transactions in the reconcile account screen and see if you can ascertain the error that way
Hope that helps
Lisa
Appreciate the reponse Lisa.
I've worked through that process. Will try it again.
Hi
Are you manually entering the bank statement balance ( as it appears on your bank statement) into the closing bank statement balance box in the reconcile bank screen?
Do you reconcile as at the opening date?
Are there any entries that were missed prior to bank feeds starting?
Lisa
