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An incorrectly displayed Calculated Statement Balance

Kristykyeema1
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An incorrectly displayed Calculated Statement Balance

Hi

 

Just wondering if anyone else is having the same issue.

 

I'm attempting to reconcile at 30/06/22. My Balance sheet and account balance match with my bank statement and if I run a reconciliation report, it matches my bank statement. But the displayed calculated statement balance is incorrect. I have reconciled every transaction that is showing, there's nothing else to reconcile. 

 

I tried undoing the reconciliation and ended up going back right to 01/07/21 and it was still showing that I was out by the same amount on the calculated statement balance, but my Balance Sheet and reconciliation reports were correct. 

 

The issue is described on the MYOB website here, if you scroll down to "check the calculated statement balance":

https://help.myob.com/wiki/display/ar/Resolving+out+of+balance+bank+reconciliations#expand-Tocheckth...

 

The resolution for the issue is to contact MYOB which I did. But they didn't know how to fix it and have said someone will call me back in two days time. 

 

Since I called them this morning, I've now discovered a second bank account is also displaying incorrectly calculated statement balance. 

 

It seems to have started around July or Aug, I'm wondering if it was caused by one of the updates? Has anyone else found this problem and is there a resolution?

 

Thanks

3 REPLIES 3
Komal_S
MYOB Moderator
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MYOB Moderator
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Re: An incorrectly displayed Calculated Statement Balance

Hi @Kristykyeema1 

Before we go through those steps, can you please apply the following and let me know how you go on:

 

  1. Check Last Reconciled date on Reconcile Accounts window.
  2. Go to Reports > Banking > Cheques and Deposits > Reconciliation Report
  3.  Select Advanced Filters
  4.  Select Individual bank account > OK
  5.  Select Change Entered Statement Date to List of Recorded Statement Dates and Run Report
  6. Click on Statement Date to see all statement dates
 
 
If the latest date on this report does not match the last reconciled date on the reconcile accounts window, that means there is an issue with the report. In order to correct it, take a backup of your file, and
 
  1. Go to Banking > Reconcile Accounts
  2. Enter a fake date after the latest statement date: e.g. 01/08/2023. Ignore the message about the transaction being future-dated.
  3. Enter the Calculated Statement Balance into the Closing Statement Balance field, so that the Out of Balance is $0.00
  4. Press the Reconcile button. This should then allow you undo the 'fake' reconciliation and any other future dated transactions and the calculated balance should then appear correctly. 

Kind regards,
Komal

MYOB Community Support

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Kristykyeema1
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Re: An incorrectly displayed Calculated Statement Balance

Hi 

 

Thanks for your respones.

 

The latest date on the report matches the last reconciled date, so that's not the issue.

 

Any other suggestions?

 

Thanks

Komal_S
MYOB Moderator
7,988 Posts
MYOB Moderator
MYOB Moderator

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Re: An incorrectly displayed Calculated Statement Balance

HI @Kristykyeema1 


Apologies for the delay in getting back to you. 

Can you please try applying the following fix as it has fixed the situation for many customers with the incorrect calculated balance issue :

 


Can you please try the following steps and let me know how you go on: 

Take a backup of your file, and
 
  1. Go to Banking > Reconcile Accounts
  2. Enter a fake date after the latest statement date: e.g. 01/08/2023. Ignore the message about the transaction being future-dated.
  3. Enter the Calculated Statement Balance into the Closing Statement Balance field, so that the Out of Balance is $0.00
  4. Press the Reconcile button. This should then allow you undo the 'fake' reconciliation and any other future dated transactions and the transactions should show up for you to reconcile again.

Kind regards,
Komal

MYOB Community Support

Online Help| Forum Search| my.MYOB| Download Page

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