Forum Discussion

ROY's avatar
ROY
Contributing Cover User
4 years ago

Cash Movement Report - Query re; Opening and Closing balance variance

Hello,   Have started to use the above report available in the browser version of MYOB AccountRight, and it may be very useful for our not-for-profit organisation Board Reports to summarise cash mo...
  • ROY's avatar
    ROY
    4 years ago

    Thanks for the support reply Tracey.

     

    I have managed to reverse calculate how the Opening and Closing variance balances are calculated and am now confident to use and present the report data in Board Reporting. The opening and closing variances for one month reporting is clear and understandable.

     

    If the report is run for longer than a one month period, then the variances for the opening and closing balance is a monthly cumulative total, and no longer directly related to the opening and closing balances reported on the report. 

     

    Attached spreadsheet shows the actual Opening Cash from 1 March to 30 November, with a difference of $2,036,530. The variance on the report is $41,618,553. The variance on the report is actually each monthly variance from March through to November, see tab 2 on the spreadsheet for the monthly report totals.

     

    Thank you for your assistance

Tracey_H's avatar
Tracey_H
Former Staff
4 years ago

Hi ROY 

 

Sorry to see that no one has replied to you yet. My test file is also showing a strange amount in the varience column for the opening and closing balances. I've passed this on to the product specialist team to investigate.

 

I'll update you when I have further information.

  • ROY's avatar
    ROY
    Contributing Cover User
    4 years ago

    Thanks for the support reply Tracey.

     

    I have managed to reverse calculate how the Opening and Closing variance balances are calculated and am now confident to use and present the report data in Board Reporting. The opening and closing variances for one month reporting is clear and understandable.

     

    If the report is run for longer than a one month period, then the variances for the opening and closing balance is a monthly cumulative total, and no longer directly related to the opening and closing balances reported on the report. 

     

    Attached spreadsheet shows the actual Opening Cash from 1 March to 30 November, with a difference of $2,036,530. The variance on the report is $41,618,553. The variance on the report is actually each monthly variance from March through to November, see tab 2 on the spreadsheet for the monthly report totals.

     

    Thank you for your assistance

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