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GA39's avatar
GA39
Trusted User
4 years ago
Solved

Calculated Statement Balance is incorrect from the very beginning

Previously I reconcil my bank account every month without problems.

Now it comes to my attention that the bank reconciliation doesn't make any sense.

I have undo reconciliation to the very beginning & the calculated statement balance is still not correct.

 

The opening balance I put is $905,404.07. When I go to the bank reconciliation tab, the calculated statement balance as of 01/07/2018 is out by $1,469.81. 

 

I didn't touch this account for a while now until last night.

Last night I realised there is a journal entry posted on 26/11/2020 amounting to $1,469.81 which doesn't have a description. I added in the description without change the date. Then the bank reconcilation doesn't make sense. Is the software has a bug? How do I fix this?

 

 

 

  • gavin12345's avatar
    gavin12345
    4 years ago

    Hi GA39 

     

    I suggest you don't waste too much more time on this. In my opinion, based on seeing this several times before, there is a corruption in your file. Send it to MYOB to fix.

     

    Tracey_H  wrote : The calculated statement balance comes from the closing balance of the previous reconciliation, and any transactions that have been ticked in the Reconcile Accounts window.

     

    This is incorrect. Something in the future has caused this issue. The 26/11/2020 transaction likely updated something it should not have, or didn't update something it should have. Try deleting and re-entering that transaction. (Make a backup first). If you get a Data Invalid error this confirms corruption.

     

    Regards

    Gavin

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  • Tracey_H's avatar
    Tracey_H
    Former Staff
    4 years ago

    Hi GA39 

     

    Thanks for your post. Making changes to previously reconciled transactions can cause those transactions to become unreconciled. This means that you need to undo the previous reconciliations and then re-reconcile to include that transaction. 

     

    The Closing statement balance needs to be the closing balance from your bank statement, not the opening balance, so I would check that you are entering the correct figure in that field.

     

    This help article has detailed information to assist you: Resolving out of balance bank reconciliations

     

    If you still have problems with this please do let me know.

     

    If my response has answered your enquiry please click "Accept as Solution" to assist other users find this information.

    • GA39's avatar
      GA39
      Trusted User
      4 years ago

      Tracey_H ,

       

      I have undo all bank reconciliation to Day 1 of the file. The opening balance that I key in via "Set up-Balances-Account Opening Balances as of 01/07/2018" is $905,404.07. This figure should be the same as the reconciliation function when there is no transaction at all. However, it is already out of balance by $1,469.81 when there is no transaction on 02/07/2018.

      • Tracey_H's avatar
        Tracey_H
        Former Staff
        4 years ago

        Hi GA39 

         

        The Closing Statement balance for your first reconciliation needs to be the closing bank balance on the day prior to your conversion month. So if your conversion month is 01/07/2018 you need to enter the closing balance from the bank statement on the 30/06/2018. Can I get you to confirm that the Closing statement balance figure is from your bank statement on the 30/6/2018?

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