Fixing Bank Reconciliation

[ChristineE]

Using AccountRight, I have been routinely hiding payroll transfers from Bank Feeds as they usually go through in groups that MYOB won't match.  This is no problem as the payroll transfers are already sitting in the Bank Rec ready to be reconciled.

However, in previous months I mistakenly ticked off some transfers via Bank Feeds to an incorrect account.  When I identified these amounts, I deleted the entries and immediately went to the Bank Feeds expecting them to be there.  I unhid the transactions and expanded the search date to reveal the ones I was looking for.  I was able to transfer them from Bank Feeds to the Bank Rec by use of the Find function.  However, now I am trying to reconcile the amounts and the bank rec if persistently out by the amount of the two transactions.  I have tried deleting the payroll entries and re-entering them, but with the same result. 

Any help will be most appreaciated!

[Neil_M]

Hi @ChristineE

Welcome to the MYOB Community Forum, I hope you find it a wealth of information.

Am I correct in that you have an out of balance in your bank account in your Reconcile Accounts? If you do, have you seen our help article, Resolving out of balance bank reconciliations? This article does explain the ways to check and work out where the out of balance has come from, Ill detail the basics below for you.

To ensure the integrity of the file can you please go into the Reconcile Accounts window and put in the date of the bank statement or todays date. Once you have put the date then you will need to tick all transactions that show on the Reconcile accounts screen. Are you able to take a note of the calculated statement balance once you have ticked every transaction.

You will need to compare this balance to the ending balance on the Find Transactions window for the same account for the same date. These two figures should match, ignoring any positive or negative symbols, as shown in this screenshot.

If that matches, then you will need to go over the previous reconciliation reports displayed inside AccountRight, and check those against the printed reconciliation reports or bank statements. You would want to keep going back until you found the first bank statement that matched the reconciliation report produced from AccountRight, which you can view this report by going Reports >> Banking >> Reconciliation Report.

Once you have found the first matching report then you will know the first month that has the out of balance so you should be able to see what has caused the out of balance.

Please let us know how you get on, and do feel free to post any other questions that you may have

[Neil_M · Accepted solution]

Hi @ChristineE

Welcome to the MYOB Community Forum, I hope you find it a wealth of information.

Am I correct in that you have an out of balance in your bank account in your Reconcile Accounts? If you do, have you seen our help article, Resolving out of balance bank reconciliations? This article does explain the ways to check and work out where the out of balance has come from, Ill detail the basics below for you.

To ensure the integrity of the file can you please go into the Reconcile Accounts window and put in the date of the bank statement or todays date. Once you have put the date then you will need to tick all transactions that show on the Reconcile accounts screen. Are you able to take a note of the calculated statement balance once you have ticked every transaction.

You will need to compare this balance to the ending balance on the Find Transactions window for the same account for the same date. These two figures should match, ignoring any positive or negative symbols, as shown in this screenshot.

If that matches, then you will need to go over the previous reconciliation reports displayed inside AccountRight, and check those against the printed reconciliation reports or bank statements. You would want to keep going back until you found the first bank statement that matched the reconciliation report produced from AccountRight, which you can view this report by going Reports >> Banking >> Reconciliation Report.

Once you have found the first matching report then you will know the first month that has the out of balance so you should be able to see what has caused the out of balance.

Please let us know how you get on, and do feel free to post any other questions that you may have