Forum Discussion

Ahmad1's avatar
Ahmad1
User
3 months ago

Bank Reconciliation has disappeared

Good Afternoon,

 

I was in the process of reconciling some old receivables and during the reconciliation process, the system essentially wiped any previous reconciliations I had completed. They are still present in the bank account as well as the transaction journal however I can not go back to view them in the actual bank reconciliation section. I would appreciate any assistance on this matter.

 

Thank you.

 

Kindest Regards,

Ahmad

1 Reply

  • Hannah_V's avatar
    Hannah_V
    MYOB Moderator

    Hi, Ahmad1. Thank you for your post and welcome in the Community Forum.

     

    To ensure the accuracy of your business records, you should ensure that the record of your bank account balances matches the amounts on your bank statements. This task is called reconciling accounts.

     

    If your business traded prior to your conversion month and you have uncleared banking transactions as at the first day of your conversion month, you need to do an initial bank reconciliation. (The conversion month is the earliest month in the financial year for which you recorded transactions in AccountRight.)

     

    Uncleared banking transactions are withdrawals and deposits that have not been cleared by your bank as at the start of your conversion month. They include unpresented cheques and credit card purchases yet to appear on your bank statement. Make sure you have entered your account opening balances before doing your initial bank reconciliation.

     

    If you have any further questions or if there's anything else we can assist you with, please feel free to let us know.
     

    If I'm able to help you today, please click "Accept as Solution" to assist other users in finding this information. 


    Cheers
    Hannah