Calculated balance incorrect for an account

Hi

sorry I don't have anything else. 
perhaps a moderator may be able to help

lisa 

Good morning,

We know the account has been cleared to zero. So the reconciliation should be working.

Can you do this :

Go to lists - then accounts - find the clearing account and check that the balance is zero there.

Yes  - good ( you know it should reconcile to zero)

Now go to the reconcile bank again see if it reconciles.

If it doesn't change the closing statement balance to the out of balance amount and see what happens to the figures. Does the difference come back to zero? and are the debits and credits still equal?

now untick all the entries ( use the checkbox on the ribbon above all the individual transaction tick boxes- this selects all) see how it affects the difference amount.

Now retick all to reconcile change closing balance to zero and fingers crossed it works.

Worth a try

Lisa

Hello Lisa

Looking at the accounts list - my balance is -3528.62 - and I rechecked the opening balance, its definitely zero.

I also followed your instructions, nothing has changed though.

if there is a balance in the account there must be a transaction or transactions that  exist. 

has the account been reconciled at some stage? 
if so run a reconciliation report for that last date and see what it says. 

it may be a historical error 

lisa

The account was reconciled numerous times since its creation in 2016.  I don't know why it went out of balance though.  I ended up undoing all recs back to day one in the hope the problem would clear itself when I then reconciled, but it hasn't.

The account is unreconciled - all transactions are accounted for and debits equal credits - its just the calculated statement balance that is wrong.

If you start the reconciliation from the start 

Put the date as at the beginning of the account. Make sure everything is unticked and see if the calculated balance is zero

if it is start reconciliation year by year and see if there is a problem as you go

if there is go back month by month to see where the issue is

its a bit crazy 

lisa

I did that when I undid all the recs, I went through month by month, all transactions are accounted for.

This whole thing is crazy, I just don't understand why this is happening.

The only thing that has happened to our Myob file that I am wondering about is that our accountant rolled over our financial year and I think they may have purged records (I did do a backup so I have the old records).

Do you think that maybe something in that process is preventing me from reconciling?

Rolling over a year should not affect your balance sheet items and if your clearing account is set up as an asset than it should be fine

if your accountant has made a journal entry to that account it may make it not reconcile - however if you are reconciling correctly you would  see this entry as it won't reconcile with anything or it will leave something else unrexonciled. 

by all means check your accountants entries

sorry that I have been unable to help. Perhaps a moderator can assist 

Lisa

Lisa, you have been fantastic to offer so much help to me, I really appreciate it.

There are no accountant entries in this account, I was clutching at straws when I made that statement :-)

Thank you so so much for your help, you are a legend!