Reconciling credit card with negative balance

[LouJas22m]

I'm currently using MYOB AccountEdge Pro V15 and have an issue with reconsiling my credit card which I accidentally overpaid by $4.49. My bank statement has an opening of $0 and closing of -$4.49 (I'm in credit).

When I reconcile my account I get an error stating "Your bank thinks you have $4.49 LESS than AccountEdge Pro shows." 

Please advise what I can do to move to the reconcile my credit card account.

Thank you.

Jason

[Steven_M · Accepted solution]

Hi @LouJas22m

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

I notice that the New Statement Balance field is showing as $0.00, this field should be the closing balance on the statement. If you have overpaid by $4.49 then your credit card statement would be show the closing balance of -$4.49,  which is what you do need to enter into the New Statement Balance field.

Once that -$4.49 has been entered into the New Statement Balance field you should be all good to reconcile as that matches your Calculated Statement Balance.

[LouJas22m]

Hi Steven

Many thanks for your reply. Just to confirm I basically made the mistake of putting my opening bank statement amount (which was $0) in the New Statement balance field. I should have put the closing balance of my bank statement instead - correct ?

Thank you.

Have a great day

Jason

[Steven_M]

Hi @LouJas22m

You got it! The New Statement Balance field in AccountEdge (or AccountRight) is for the closing balance on the actual bank statement not the opening balance. 

[Steven_M]

Hi @LouJas22m

How did you get on with that reconciliation?

Did entering the closing statement balance in the New Statement Balance field allow for that account to be reconciled?

[LouJas22m]

It worked perfectly - thank you so much !!

[Steven_M]

Hi @LouJas22m

That is great to hear that it has worked for yourself.

If you do have any further enquiries don't hesitate to post on the Forum again.