Reconcile Trade Creditors and Debtors

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Michelle1994
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Australia
Michelle1994

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Reconcile Trade Creditors and Debtors

I have just finished reconciling the bank in MYOB with bank statements and would now like to reconcile trade detors and creditors through the Banking > Reconcile account module.

 

How would this be done?..... I've had it breifly explained to me before, so i know it can be done, but cant quite remember how

I understand the other method people use to reconcile trade debtors and creditors with aged payables and receivables and the balance sheet but i would like to learn how to do it through banking > reconcile accounts module and check off amounts to have an out of balance figure of "0"

 

Thank you,

 

Michelle

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MYOB Staff Post RienaP
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MYOB Staff Post
New Zealand
RienaP
MYOB Staff Post

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Re: Reconcile Trade Creditors and Debtors

Hi @Michelle1994,

 

First of all, I'd like to extend you a warm welcome to the Community Forum. I hope you find it a valuable resource. 

 

Reconciling your Trade Creditors and Debtors can be done from Accounts>Company Data Auditor>under Transaction Review the first two options is showing you "Reconcile invoices with linked receivables account" which is reconciling Trade Debtors and "Reconcile purchases with linked payable account" is reconciling Trade Creditors. If it has a tick, this indicates that the debtors and creditors ledger reconcile with the linked accounts otherwise there will be a question mark which will indicate the reasons for out of balance. This is the most effective means of seeing at a glance whether your Trade Creditors & debtors reconcile or is out of balance within a given date range. I have provided you with the help page that will guide you through the process.

 

Please do let us know how you go as we are happy to assist further and feel free to post again should you have any other queries.


Regards,
Riena
MYOB Training Specialist
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