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We have identified that our payables reconciliaton is out of balance at the EOFY by $793.18. I have narrowed it down to 21st Sept 16 as the first day that it went out of balance and it has stayed out of balance by that same amount ever since.
I have run the Payables Reconciliation, an Account Transaction history report on the Trade Creditors Account, the Journal Security Audit to check for a date issue and have so far been able to find nothing.
Can someone please advise how else I can go about finding this amount?
Solved! Go to Solution.
Before spending too much time, I suggest you first check the discrepancy is not caused by a corruption to the file. To do this generate a Balance Sheet as at the end of the next financial year and see if Net Assets = Equity. If not, the discrepancy may be caused by a glitch and the file will need to be fixed by MYOB.
If the accounts are balanced, I was going to say try the Support Note for identifying discrepancies. See here https://www.myob.com/au/support/accountright - however the search function does not seem to be working.
There is a Support Note that provides guidance for resolving Payables Reconciliation issues however I cannot locate it at present - perhaps another reader might know where to find it.
@DiWallCTFind the transaction/s which add up the the amount out of balance on the date the error occurs. Go into them and recap transaction to make sure everything is going to the right accounts, then go to their history and check the date the payment was applied. I'm guessing you might find that someone entered a payment on a future date.
To trouble shoot I usually run the report about 2 years ahead and see if it's resolved and work back from there to when it goes back to being out of balance. This isolates your key dates.
I've found it now.
Thanks Nikki - this got me out of trouble - an invoice was posted in 2106 instead of 2016 so I had to go ahead a few more than 2 years but I found it eventually. Thanks for the tip!