Balances in reconciliation not making sense
Since the last MYOB update, one of the bank accounts is showing a balance of $153,000 and another of -$152,800. They are not linked, have no opening balances and transactions are minimal (nothing ne...
Forum Discussion
Hi RLS2,
Thanks for reaching out and welcome to Community Forum.
Sorry to hear about your difficulties reconciling. What I would suggest doing is checking the current month if all transactions are there, if all is there we could undo the reconciliation and check each month if all transactions in the bank statement are inside the file or if there are any duplicates.
Let us know how it goes and if you require any further assistance.
Cheers,
Genreve
Hi
I have tried reconciling these accounts and unreconciling, both current date and to a future date e.g. 31/12/4000. They are manually entered transactions, not bank feeds. Both accounts are out by the same amount $153,800.80. One account has no transactions for the year, only an opening balance of $250 and it is still saying it is out by $153,800.80. Both accounts reconciled as at 30 April 2023. MYOB file was only created 01/07/2022 and contains very few transactions. There is no transaction, or group of transactions, that make up this amount. They are not linked accounts. There is no journal entrey for this. Closing balances are $250 (no transactions in this account) and $98.99 (minimal transactions which have been manually checked and ticked off). Balance sheet is displaying the correct amounts. The issue has only occurred since the recent MYOB updates (automatic updates on line). MYOB has spent time looking at the issue and can't find out where these balances are coming from or how to fix the issue. File showing screen shots of accounts and balances attached. Any ideas? Note: both accounts are out by the same value.
Hi RLS2,
Thanks for the update.
There are only two ways an amount could be added to a ledger account. Either there are transactions added that affect it or the incorrect opening balance. As you mentioned there is no opening balance most likely the issue is coming from unwanted transactions being recorded.
What I could suggest doing is going to Banking > Find Transactions > Debits and Credits > Filter the date from the start of the file to the current date > Choose the bank account under the accounts dropdown. The account that should end in $250 should have no transactions on this window, so if any transactions come out of this filter most likely they need to get deleted.
Let us know if you encounter any issues. We're happy to help.
Cheers,
Genreve
Hi
Thank you for your reply. Please see attached screen shots of both accounts under banking find transactions from date of conception. There are no transactions in one account and minimal in the other. I see from other users on the community forum and MYOB fb page that this is a known MYOB issue that has happened to a number of users and is a result of a MYOB update sometime between 30 April to now. Would you please ask someone at MYOB to contact me directly so they can dial in remotely and fix the issue or run another update to fix the issue for all users that are experiencing this frustrating issue
Thank you
Hi RLS2,
Thanks for the screenshots and your patience so far.
I believe the window that we are having the issue is the Reconcile accounts window, feel free to correct me if this was misunderstood. May I ask also for a screenshot of the window where it shows the imbalance (reconcile accounts window)?
We look forward to your response.
Cheers,
Genreve
