Outstanding deposits and cheques

Question

Hi all,&nbsp;I was working on the bank reconciliation to 31 Jul 22 for a client. It now has outstanding cheques and deposits that have previously been reconciled. Could the support team provide an explanation as to why this is happening? Is it a glitch in the latest updates? Has anyone else experienced something similar?

komal_s · Answer

Hi&nbsp;Didz&nbsp;
&nbsp;
If you're using MYOB AccountRight, sometimes this can happen due to a glitch in the reports. So we can confirm that's the issue, can you please do the following:
&nbsp;

Check&nbsp;Last Reconciled date&nbsp;on&nbsp;Reconcile Accounts&nbsp;window.
Go to&nbsp;Reports &gt; Banking &gt; Cheques and Deposits &gt; Reconciliation Report
&nbsp;Select&nbsp;Advanced Filters
&nbsp;Select Individual bank account &gt; OK
&nbsp;Select&nbsp;Change Entered Statement Date&nbsp;to&nbsp;List of Recorded Statement Dates&nbsp;and Run Report
Click on&nbsp;Statement Date&nbsp;to see all statement dates

&nbsp;

&nbsp;
If the latest date on this report does not match the last reconciled date on the reconcile accounts window, that means there is an issue with the report. In order to correct it, take a backup of your file, and
&nbsp;

Go to&nbsp;Banking &gt; Reconcile Accounts
Enter a fake date after the latest statement date: e.g. 01/08/2023. Ignore the message about the transaction being future-dated.
Enter the Calculated Statement Balance into the Closing Statement Balance field, so that the Out of Balance is $0.00
Press the&nbsp;Reconcile&nbsp;button. This should then allow you undo the 'fake' reconciliation and any other future dated transactions and the transactions should show up for you to reconcile again.

&nbsp;
Let us know how you go on.

didz · Answer

Hi Komal,&nbsp;Thank you for your reply.&nbsp;Unfortunately that didn't resolve the issue. There are still outstanding deposits and cheques showing up in the reconciliation with some dating back to 2016!!&nbsp;&nbsp;

komal_s · Answer

Hi&nbsp;Didz&nbsp;Are these outstanding transactions showing in the Reconcile Accounts window or the reconciliation report, or both?

didz · Answer

Hi Komal_S&nbsp;&nbsp;Both. Many users reported similar issues with their bank reconciliations. MYOB has not been able to provide a solution to this issue. I kept a copy of the Jun 22 bank reconciliation report when it was 100% reconciled with no outstanding deposits and cheques.

komal_s · Answer

Hi&nbsp;Didz&nbsp;We do not have widespread reconciliation issues, the similar issues reported by different clients are specific to their files and need individual investigation. With regards to your query, we're happy to investigate this further for you, but would need you to check the calculated statement balance again as per the steps given below:&nbsp;
&nbsp;

On the&nbsp;Reconcile Accounts&nbsp;window:

Enter the closing date of your latest bank statement in the&nbsp;Bank Statement Date&nbsp;field.
Enter $0.00 in the&nbsp;Closing Statement Balance&nbsp;field.
Select all transactions as cleared and take note of the&nbsp;Calculated Statement Balance. (This step is important and please also ensure that the Closing Statement Balance is 0 as per step 2)

Go to&nbsp;Find Transactions &gt;&nbsp;Accounts&nbsp;tab.
Select&nbsp;the&nbsp;bank account you're trying to reconcile.
Enter the closing date of your latest bank statement in both the&nbsp;Dated From&nbsp;and&nbsp;To&nbsp;fields&nbsp;(In your screenshots, these dates are not the same) .
Press the TAB&nbsp;key on your keyboard and take note of the&nbsp;Ending Balance&nbsp;in the bottom-right of the screen.

Once that is done, attach the screenshot of both&nbsp;Reconcile Accounts&nbsp;and&nbsp;Find transactions&nbsp;and we can then check what the issue is.&nbsp;

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Outstanding deposits and cheques

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