Forum Discussion

campaignr's avatar
campaignr
Experienced User
3 years ago
Solved

Bank Reconciliation - Calculated closing balance problem

I have recently set up MYOB Business Lite for a small non-profit. The previous Treasurer of the organisation was maintaining handwritten books.  I have encountered what appears to be an error with th...
Banking
Calculated Closing Balance
reconciliation
  • Tracey_H's avatar
    Tracey_H
    3 years ago

    Hi campaignr 

     

    Sorry to see that no one has replied to you yet. If you go to Accounting>>Chart of accounts>>open that account, is there an Opening balance?

     

    If you're still having problems with this can you please send me screenshots in a private message.

campaignr's avatar
campaignr
Experienced User
3 years ago

Update: I have checked every transaction and the calculated closing balance is wrong. Somehow the calculated closing balance for dates pre-dating the opening of the bank account is -$9,099.64. Other than that error, all the bank transactions reconcile. Why would MYOB calculate a negative closing balance for dates prior to the first bank transaction? How can this erroneous calculated closing balance be fixed?