Bank reconciliation
I have had a number of transactions not appear on my bank feeds and I would like to do a regular bank reconciliation to ensure the accuracy of my data. How can I do this in MYOB Solo?
Forum Discussion
Hey there Colette21 - hope you're having a sensational Monday!
Reconciling transactions can look a little different depending on what product you're using inside the MYOB universe, so I'd like to take a moment to double check what you're hoping to accomplish! Solo uses a service called "Open Banking" to deliver transactions to the app, compared to "Bank Feeds" which is in use in other MYOB products and services. This means that importing data into Solo is a hands-off, admin-free experience without much need for manual intervention.
Unfortunately at this time, Solo doesn't support the importing of "historical" data, as in, transaction info that happened before you connected your bank account. But, we do occasionally notice issues with the data coming in from the banks.
For example... let's say you make a 10 dollar transaction at Supermarket A - your bank would send that information over to Solo for the app to pick up and smart match. On the journey though, they've recorded the name of the business as "Supermarket <A>", and these unexpected symbols make it hard for the systems to "pick up" the new information, as it's not in a format they'd expect.
With all that in mind, I'd love to help you further! I couldn't find a Solo account linked to your details here on the Forum, but you're more than welcome to tap More > Chat with us once logged into Solo and we'll be able to source your account details.
If you're using a different MYOB product though, please let me know and I'll get you connected with the right folks to help! Looking forward to chatting with you soon ☺️
