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July 2021 - last edited July 2021
July 2021 - last edited July 2021
In my new role I recently began using MYOB and new to it although have some bookkeeping experience
I've been asked to reverse many incorrect recieve money transactions and make them recieve payments when matching via bank feeds.
I'm now trying to reconcile bank ac which have not been done for a long time.
It appears the reversal entries can be seen as well. is this usually the case?
I can mark these entries as cleared ransactions (as they effectively balance eachother out) as well as bank statement transactions.
Some are duplicated and do not balance
How would you suggest I handle this?
Thanks for any help you can offer.
Solved! Go to Solution.
July 2021
July 2021
Hi @melita9
Welcome to the Community Forum!
As you're using bankfeeds, the best way to reconcile in this case will be matching the Receive Payments via Bankfeeds, and then ticking off all the entries that clear off each other on Banking>>Reconcile Accounts window.
If there are any duplicates left after this process, please delete those transactions ( ensure "Transactions can't be changed. They are reversed" is unticked under Setup>>Preferences>>Security, as this preference allows for transactions to be deleted instead of reversing them).
Let me know if you have further questions on this.
Kind regards,
Komal
MYOB Community Support
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July 2021
July 2021
Thanks Komal.
I will do that.
Is it usual to see these reversed transactions in the bank rec window ?
I did reverse a bank rec and not sure if this was the cause. Just getting familiar with Myob
July 2021
July 2021
Hi @melita9
If the reversed transactions are coded to the bank account you're reconciling, they will appear in the bank reconciliation window and that is normal software behavior.
Kind regards,
Komal
MYOB Community Support
Online Help| Forum Search| my.MYOB| Download Page
Did my answer help?
Mark it as a SolutionHelpful? Leave a to tell others
July 2021
July 2021
thanks for the help
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