The interest received in one of our savings accounts is showing correctly as a deposit in the Bank Transactions:
When I go to reconcile these transactions however, they show as withdrawals:
Can you please assist?
Hi Carly22,
I get how confusing it can be when transactions don't match up as expected. It sounds like the interest received is correctly showing as a deposit in your bank transactions, but during reconciliation, it appears as a withdrawal. This is correct because in the reconciliation process, debits and credits are used to balance the accounts, while in the bank feeds, deposits are shown as money received. You can also speak to your accountant, as they can provide you with more information.
Best regards,
Doreen
Hi Doreen,
I don't think that's the case. I know some transactions can show that way when viewing the Balance Sheet, but this is a bank account.
The item above the two interest deposits is also a savings deposit, which shows as a deposit in both the Bank Transactions and the Reconcile Accounts pages.
This is the first month in 20 years that the interest deposit has reflected as a withdrawal in the account reconciliation.
Hi Carly22,
It is unusual if the interest deposit is showing as a withdrawal in the account reconciliation, especially if it has been correctly reflected for the past 20 years. Please reach out to our support team directly for a thorough investigation. You can reach them on livechat via MOCA through myob.com/support or by submitting a case via My Account.
Best regards,
Doreen
