Forum Discussion

Cover User

3 years ago

Reconcilation - Calculated Statement Balance is incorrect

Hi All

The reconciliation calculated statement balance has been changed since the last reconcililation.

The last reconciled date was 31/10/2021 and the calculated statement balance then was $34,780.15 which matches the ending/closing balance of the October bank statement. All in all, the carried forward date for the previous month matches as well and also all previous reconciliation reports and bank statements balances all match up too.

However, when I tried to reconcile November, December and January, I noticed that the calculated balance is showing $34,220.59 as at 31/10/2021 a discrepancy of $559.56. It should have been $34,780.15 which is the last reconciled balance.

This discrepancy is carried forward for November, December and January.

I have ticked off all the transactions from the bank statement to the bank register and also the reconciliation register from July 2021 and to date and they all match. So, all transactions are there and matched, so it should balance, but for the calculated balance brought forward.

I have ruled out the duplicated entries, as they were not matched off.

Any ideas?

Your assistance is very much appreciated.

Ddom
3 years ago
Hi Komal

Thanks for your response.

I followed the steps from MYOB Reconciling your bank accounts.

I eventually got to the last step which was to undo the last reconciliation (which was where the issue started) and somehow the calculated statement balance was reset to the correct balance after that.

So, I guess in essence your advice to future date and then undo it, would have amounted to the same process.

Thanks again.

LRBooks61
Ultimate Cover User
3 years ago
Hi

I suggest you do a search on the discrepancy amount. As the amount has changed sine the October reconciliation the transaction may be dated prior to October.

Have you gone into the reconcilation screen to see if there are any unreconciled amounts in the bank?

Has a deposit for this amount been deleted?

Hope this is helpful

Lisa
- Komal_S
  MYOB Staff
  3 years ago
  Hi Ddom
  
  Further to the suggestions offered by LRBooks61 , the issues with calculated balance can often be resolved by doing a future dated reconciliation and then undoing it. Can you please try doing that and let us know how you go on?
  
  If the issue still exists, please confirm if you're using AccountRight or MYOB Business so we can then advise accordingly.
  - Ddom
    Cover User
    3 years ago
    Hi Komal
    
    Thanks for your response.
    
    I followed the steps from MYOB Reconciling your bank accounts.
    
    I eventually got to the last step which was to undo the last reconciliation (which was where the issue started) and somehow the calculated statement balance was reset to the correct balance after that.
    
    So, I guess in essence your advice to future date and then undo it, would have amounted to the same process.
    
    Thanks again.