Forum Discussion

megan__'s avatar
megan__
6 months ago

Bank Rec glitch / error

I have just been attempting reconciliation of a bank account and, after numerous failed attempts, I looked back at the previous report and noticed it did not match the amount on the actual bank statement. I undid that prior period and re-reconciled the transactions successfully, saved, reconciled and re-printed the report.

I then moved to the next period to begin and found that I was unable to reconcile again. When I re-checked the (newly created) reconciliation report for the previous period it did not match the prior month's statement again - it was out by the same amount, even though I know it matched when I performed the reconciliation it a few minutes earlier. 

I logged out and in and repeated the process only to be faced with the same problem. Screenshots in doc attached show my screen showing one balance and the report something totally different.

There are two transactions in the old period for the same amount - but only one of them in showing as reconciled in the report - even though it shows on screen when i reconciled it. The second value does not show as outstanding in the transactions to be reconciled so i can't simply click to add it in this new period. 

bank rec
  • megan__'s avatar
    megan__
    6 months ago

    Have resolved this myself. The amount of the difference was a payment for an invoice that was showing on the transaction screen and then missing from the bank statement. There were two transactions for the same amount on that months credit card.

    I went in and unmatched both the items. Once was matched to a payment I had recorded manually of the invoice to the credit card, and the other one that was matched through the bank transactions/feed page. 

    Once they were both unmatched, I deleted the manual payment and then proceeded to the Bank transactions screen where I re-matched each amount to each invoice.

    I then re-reconciled and it now works!!

  • Doreen_P's avatar
    Doreen_P
    MYOB Moderator
    6 months ago

    Hi megan__,

     

    I understand you've been dealing with reconciliation issues. No worries, let's work together to get everything back on track. On your screenshots, it should have the last reconciliation figures and it will adjust depending on the transactions ticked. If there are no modifications made from the previous date transactions, it should have the last reconciliation figures. The calculated closing balance is like your own tally based on what transactions you've marked off, but you still need to compare it with the official bank statement balance, especially for the date you're reconciling. You can also click the link here for more information. If you require further assistance, feel free to drop us a post again.

     

    Best regards,

    Doreen

    • megan__'s avatar
      megan__
      6 months ago

      Hi Doreen,

      Thanks for your reply, yes you are correct it SHOULD show the previous reconciliation balance - but the system is CHANGING the balance by itself.For clarity in my document:

      Screenshot 1 - shows the balance -726.32 being both the actual bank statement balance AND the calculated balance in my system after I have checked off all the transactions.

      Screenshot 2 - this is after I have clicked [RECONCILE] note the 2 balances are still the same $-726.32

      Screenshot 3 - this is the report generated when I click [EXPORT] after I have clicked [RECONCILE] - note the balance here has changed now $-884.31 - to reiterate no actions have been made I simply clicked RECONCILE received the "Successfully reconciled" popup then clicked [EXPORT] and the report shows a different figure to what was the figure on screen when I clicked [RECONCILE]

      Screenshot 4 - this was taken when I attempted to reconcile the next period - the calculated balance should show the same as was seen in screenshot 1 & 2 - no transactions were recorded, nothing was touched anywhere in the system the balance is now just different to what it should be.

      • Shella_A's avatar
        Shella_A
        MYOB Staff
        6 months ago

        Hi megan__,

         

        Thanks for the detailed explanation. It looks like the 'RECONCILE' button is tweaking the balance a bit, which is strange. I'd recommend going through your transactions again for any odd ones. If it all checks out, try doing a future-dated reconciliation. Just head to Banking > Reconcile Accounts > Account, set the bank statement date to December 31, 9998, and copy the calculated statement balance to the closing statement balance box. Then hit Reconcile and undo reconciliation. This should help you spot any transactions that might be hiding in the reconcile accounts window. However, if neither of these scenarios apply, you may need to visit help sites like myob.com/support or myaccount.myob.com to find MOCA, our virtual assistant. Use MOCA for immediate queries and assistance. If MOCA can't help, you'll be automatically directed to our live chat team.

         

         

        Kind regards,

        Shella

Looking for something else?

Search the Community Forum for answers or find your topic and get the conversation started!

Community home

Dig into MYOB Academy for free courses, learning paths and live events to help build your business with MYOB.