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 floating item in the "reconcile account" folder of banking transactions. Additionally, the retained earnings account on the balance sheet was affected and credit card account as well. How can this error be resolved? Thank you and looking forward for your advises.
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,
Genreve
To clarify, it was not deleted but uncategorized from expense account.
