Calculated balance incorrect for an account
I have a clearing account that for some reason will not reconcile. The calculated balance is -$2613.63 whereas I need for it to be nil, otherwise it won't balance. I have undone all recs on this ac...
Forum Discussion
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!
