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Fixing bank reconciliation

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Sharon-twenty2
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Cover User
Australia
Sharon-twenty2
Cover User

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Fixing bank reconciliation

Hi I've seen this issue on the forum before but not been able to find a solution

I have a one cent out of balance (despite both columns matching bank statement and should clear to 0 balance.

Tried entering a one cent payment to clear but this then bumped me to a one cent error the other way!

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Ultimate Partner Geoff_
1,720 Posts
Ultimate Partner
Australia
Geoff_
Ultimate Partner

1720Posts

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Re: Fixing bank reconciliation

Hi Sharon

 

A couple of ideas

 

You could use a  General Journal entry Debiting or Crediting the Bank Account and put it off to an Account Called Rounding

 

Or you could go to the  Chart of Accounts - Select the Bank Account - Account Information - Opening Balance.

And adjust the Opening Balance by a cent.there.

 

Geoff
Busselton Bookkeeping Service
MYOB Bookkeeping Partner, BAS Service Provider
Phone 08 9754 7680
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