Expense transaction from prior years
A credit card transaction from 2022 with expense category was unintentionally deleted and then re-entered into the same expense account. However, this action caused the transaction to appear as float...
Forum Discussion
Hi Lea2024,
Recording the deleted transaction should correct the ledger values to normal. You can just unreconcile and redo your reconciliation for the period of the transaction. Since the issue extends to the report values, I recommend checking the recorded transaction to make sure all the information in there is correct, including the date.
Regards,
Genreve
Hi @ Genreve_S
Apologies for the confusion, it was actually not deleted but uncategorized as an expense transaction. What I did is I entered the same expense account category. Would you know how to redo the bank reconciliation for March 2022? Because the option I notice in MYOB essentials is that if I redo the reconciliation, the prior month which is November 2024 will be affected. Also, would you know if ever I redo the recon, the retained earnings will automatically correct the figures? Thank you so much
Hi Lea2024,
There isn't any way to reconcile transactions from previous financial years without undoing the reconciliation for periods preceding that. You must undo and reconcile again from the period you need to correct. As for your other question, the reconciliation does not affect any of the values of business reports. If you need to fix your retained earnings, you must fix the transaction inside the file that affects it.
Thanks,
GenreveHi Genreve_S
May I confirm if it's possible to just tick the March 2022 transaction that is floating in the reconciling folder and click the reconcile button afterward, dated March 31, 2022 instead of undoing the reconciliation for previous years? The amount will tally even if I did not input a figure in the closing bank statement balance portion of the reconcile account. Thank you.Hi Lea2024,
Yes, it's possible to reconcile the March 2022 transaction without undoing the reconciliation for previous years. You can tick the March 2022 transaction that is floating in the reconciling folder and click the reconcile button afterward, dated March 31, 2022. The amount will tally even if you did not input a figure in the closing bank statement balance portion of the reconcile account.
However, please be aware that there were issues with duplicate BankFeed transactions for March 29th, 30th, and 31st, 2022, which may affect the reconciliation. These duplicates have been removed, but if you encounter any issues, you may need to manually delete any remaining duplicate transactions.
Regards,
Earl
