Reconciliation

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BB415
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Reconciliation

I recently changed from Myob Account Right to Myob Business pro. My problem is my first reconciliation in Myob Business reconciled then my next one was out and I checked my statement against all entries and they all match. I have checked I have entered closing balance etc and all my entries are correct. Between the two reconciliations I spoke with Myob about my recurring transactions not updating after entry so their reply  was to delete them all and re-enter them which I did (needless to say some are still not updating). So question would this have caused my problem with reconciliations? Also since deleting and re-entering recurring transactions all my reconciliation reports now do not reconcile in Myob Business.

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Shella_A
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Re: Reconciliation

Hi @BB415 

 

Welcome to the MYOB Community Forum, I hope you find plenty of useful information.

 

Thank you for your post. In this matter, migrated files to MYOB Business/New Essentials. The new platform works differently to legacy Essentials and AccountRight as bank feeds affect the bank balance even if unallocated (un-coded). This means if you have old bank feeds for a period you have reconciled past (i.e., you manually created the transactions and reconciled the period) these unallocated bank feeds are causing the OOB as essentially the transaction exists twice. We can purge bank feeds until the last reconciled date to remove them or you can undo the bank reconciliation and match them (this second option is a lot more work for you so purging the old bank feeds is often the better option).

 

Lastly, we just wanted to ask when as the last time you reconciled? You may send us a private message along with the screenshot of the reconciled report.

 

Do let us know how did you go on this.

 

 

Cheers,

Shella_A

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BB415
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Re: Reconciliation

Thankyou for your reply. I already rang MYOB and sent private messages with screenshots when this first happened over two months ago with no help. I have undone reconciliations back till January 2023 so MYOB is showing last reconciliation 30/12/22 and I am still unable to reconcile as now I check back till 2021 and all reconciliations are out. I do all of my entries manually when I receive the bank statements except the invoices that are created for outside sales, I do not import anything. I am waiting on the accountant to try to fix the problem but he is extremely busy and will probably cost a fortune with him fixing it. We are a small family business so need to keep costs down where possible which is why we changed to MYOB Business due to the cost of MYOB Essentials.

When you say the transaction exists twice why does it not show up twice when I go to reconcile? If you purge the bank feeds back till Dec 22 does that mean I will need to re-enter all transactions from that date? (I don't mind doing this if it fixes the problem)

Regards Helen

Princess_R
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Re: Reconciliation

Hi @BB415 

 

Thank you for your reply. First thing you can do to troubleshoot this is to use a future dated transaction. As it shows that the last reconciliation was 30/12/22, you can try to reconcile 31/01/23 and see if it balances. If not we can try purging bank feeds or to avoid bank feeds until reconciles and to stick with manual reconciliation.

 

For more information, kindly go through this Help Article, Check your MYOB business after upgrading.

 

Please feel free to post again I'm happy to assist.

 

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

 

Cheers,

Princess

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