Forum Discussion

Experienced User

3 years ago

Cannot Reconcile Bank Account

My company just start using MYOB system. We want to make bank reconcilation of January 2022.

However, we dont have the list transaction of outstanding cheques of Dec2021 in MYOB system. We know which cheques was outstanding but the data is not recorded in our system.

How can we solve it?

Komal_S
3 years ago
Hi Umy

If you're using the AccountRight file which was upgraded to version 2020.2 or later, you can create and reverse transactions in any prior year. Additionally, you can edit and delete transactions in the previous year. More information on this can be found in this help article: Transacting in closed financial years.

Feel free to reach out if you have further questions on this.

Komal_S
MYOB Staff
3 years ago
Hi Umy

You will need to record those cheques in the software by going to Banking>>Spend Money. Once recorded, they should appear in the reconcile accounts window for you to complete reconciliation for that period.

Let us know if you have further questions on this.
- Umy
  Experienced User
  3 years ago
  Dear Komal_S ,
  
  The outstanding cheque is for past year transaction.
  Is it acceptable for me to record the cheque as this year transaction?
  Isn't myob only allows recording next financial year transactions not last year's financial transactions?
  - Komal_S
    MYOB Staff
    3 years ago
    Hi Umy
    
    If you're using the AccountRight file which was upgraded to version 2020.2 or later, you can create and reverse transactions in any prior year. Additionally, you can edit and delete transactions in the previous year. More information on this can be found in this help article: Transacting in closed financial years.
    
    Feel free to reach out if you have further questions on this.
- sBs288177
  3 years ago
  April did Reconcile but all figures have been checked twice so I am thinking that I hadnot locked the last Reconciled period and so figures must have been altered.
  - Komal_S
    MYOB Staff
    3 years ago
    Hi sBs288177
    
    If any changes have been made to the transactions, they will get unreconciled thereby affecting reconciliation. If you have additional questions on this, please do not hesitate to reach out.