Bank Reconciliation out of balance
Good morning I need some help please. I am trying to reconcile our bank account for BAS but I was only able to reconcile up to 20 March. I have a problem with the transactions on the 21st Our cheq...
Forum Discussion
Hi Mathilda,
Thank you for your post.
Regarding the wages paid on the 21st, it seems like the total amount of $13,151.60 isn't reflected correctly in your bank account balance. We'll need to investigate why this discrepancy exists. It's possible that there might be missing or duplicate transactions causing the imbalance. The first thing you should check is the linked account within the transactions. You can recap the transactions to see the linked account.
As for the separate payment of $937.92 to "Debra," it is indeed puzzling, especially if her wage was already included in the total wage amount paid. It's essential to figure out why this entry appears separately on your MYOB bank statement. Reversing the transaction as per payroll reporting requirements is necessary. However, you need to ensure that this will not affect your payroll reports.
For more information, please check Fixing out-of-balance bank reconciliations.
Feel free to respond if you need further assistance.
Cheers,
Princess
Hi Princess_R
I managed to get the recap of that transaction of the wages that I am out of balance with. Does the result of it (attached) show any reason for not balancing?
