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HoneySandra's avatar
HoneySandra
Experienced Cover User
4 months ago

Account List not accurate to General Ledger

I happened to look at one of our secondary bank accounts in the Chart of Accounts (Accounts List). The account balance shows up as $60.41 which is wrong, but when I do the transaction search for the same account, the ending balance shows up a different figure (around $3,000) which is actually the correct one. When I check the Trial Balance, that too shows the correct amount....What is going on with the Accounts List??? Why is the balance wrong?? How can I trust MYOB unless I do reconciliations?? Is this a known issue?

  • HoneySandra's avatar
    HoneySandra
    Experienced Cover User
    4 months ago

    HI 

    I ve just finished doing all that already.

    I noticed the problem was that I wasn't taking the future dated transactions into account so it's all okay for now. The Chart of Accounts was throwing me off because it takes everything into account, including the future dated transactions.

    • Earl_HD's avatar
      Earl_HD
      MYOB Moderator
      4 months ago

      Hi HoneySandra,

      We're glad to hear that you've managed to resolve your issue. It sounds like accounting for the future-dated transactions did the trick. If you need any further assistance, don't hesitate to reach out!

      Regards,
      Earl

  • Genreve_S's avatar
    Genreve_S
    MYOB Moderator
    4 months ago

    Hi HoneySandra,

     

    It's interesting how your accounts list data do not match your other reports. I recommend checking the dates of the reports you run to see if it matches. Also, you can click the values in the report to see where those values came from. 

     

    Let us know if you need more help with this. 

     

    Thanks,
    Genreve

     

     

    • HoneySandra's avatar
      HoneySandra
      Experienced Cover User
      4 months ago

      It actually has nothing to do with reports. All the reports I currently check have the correct bank balance. It's in my chart of accounts list. When I do a transaction search, it shows the correct balance. When I click into the Accounts List, its shows all my current balances of all my accounts and this is where that bank account is wrong.

       

      Upon further checking, I noticed that I accidentally forgot to reconcile via bank feeds for a few months and when I go into the Reconcilation Tool, the wrong balance is sitting there again. So, do I have to go back and Undo all my Recs until my bank feeds are cleared?

      • Doreen_P's avatar
        Doreen_P
        MYOB Moderator
        4 months ago

        Hi there HoneySandra,

         

        You can definitely undo your bank reconciliation to help identify and correct the incorrect figures. This process can be quite useful in pinpointing where things might have gone off track. To undo a reconciliation, go to the Reconciliation Tool and select the reconciliation you want to undo. This will allow you to go back and review the transactions, ensuring everything matches up correctly. Once you've undone the necessary reconciliations, you can re-reconcile them with the correct bank feeds.

         

        Best regards,

        Doreen

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