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Bank Reconciliation - MYOB Live

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Cover User
Cover User




Bank Reconciliation - MYOB Live

Why is it that in MYOB Account Premier when doing a Bank Rec you need to enter the $$$ from the bank statement to then be able to reconcile correctly.

In MYOB Live you dont!


I dont use bank feeds and balance from a paper bank statement.

My Rec on MYOB Live is always right but i have plenty of transactions that still need to be this a flaw?

MYOB Moderator
44,684 Posts
MYOB Moderator
New Zealand
MYOB Moderator




Re: Bank Reconciliation - MYOB Live

Hi @jeep15cba

When you say "MYOB Live" are you able to confirm which MYOB program you are actually referring to? Is it the AccountRight Live range or is it MYOB Essentials? If you are unsure do you access the company file via a purple desktop icon or via an Internet browser?

With the AccountRight Live range you are required to enter in the New Statement Balance when you reconcile an account. This balance needs to be entered via Banking>>Reconcile Accounts>>New Statement Balance. Please note that this is the closing balance of your account on your statement. For more information into reconciling accounts in the AccountRight Live range please see Help Article: Reconciling your accounts


MYOB Essentials runs off a different process in terms of reconciliation. It will take the balance of your general ledger account as the balance that you are trying to reconcile up to. On the Banking>>Bank reconciliation window there are 3 values;

  • "the calculated bank balance was" - all the transactions that you have reconciled and are currently reconciling
  • "Total unreconciled" - total value of the transactions that haven't been reconciled
  • "MYOB Essentials balance" - this is the balance of the account in the system and what you are trying to reconcile to

For more information into reconciling accounts with MYOB Essentials please see Help Article: Reconcile transactions

If you would further information do let us know what version of the program you are using and how we can assist further.

Kind regards,

MYOB Community Support

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