Bank Reconciliation

[Annie-PG]

Hi,

I have a problem with bank reconciliation.

The bank account had a balance matching the bank statement a few weeks ago, when doing the last reconciliation. But now the account shows a negative amount. For example, -$120 in balance.

Can you suggest where should I start looking for the missing part?

Regards,

Annie

[ronatbas]

@Annie-PG

The calculated closing balance should be the same as your last bank statement balance, the closing statement balance is what is on the bank register at the time you open the reconciliation screen.

Have you opened the reconciliation screen and set the date to the date of the last reconciliation? The outstanding should be the same as your print out of the last rec report(perhaps nothing)

I am assuming that the ($120) is showing in the calculated closing balance. There is a report in that will give you what MYOB thinks your last rec. report should look like, with one proviso - it takes the figures that are now in MYOB.

Under reports> banking>bank reconciliation. When you select your bank account from the drop down list there is another dropdown which allows you select List Of Statement Dates. This allows you select your previous bank rec's and you need to work back through these and compare the bottom line to your previous printouts or your bank statements.I would look at last month, then end of last quarter, then end last financial year - once you have established a starting point then work forward again to establish the miscreant.

From there it may be a simple matter of identifying the incorrect entry and changing the date or checking that it is not a duplicate entry.

[Sebastien_D]

Hey @Annie-PG,

Thanks for your query.

We hope you find the information that ronatbas provided above helpful. If it is infact an out of balance bank reconciliation, you can check the Support Note on our website - Out of balance bank reconciliations.

Please let us know how you go as we are happy to assist further.