Balance sheet main account not balancing

Question

I have just recently installed MYOB 2 months before the end of our financial year (which falls dec 31st).

My opening balance for the trading account is correct as per bank statement for Nov 1st, i have reconcilled nov and dec bank statements and my bank statement figure was correct and account was reconcilled.

BUT - the balance on the balance sheet does not marry up with the reconcillation report and i have cross referenced my trade account accruals report against the bank statement and all that balances as well.

Any ideas where i could be going wrong? Cheers, Mandy

haydes · Accepted Answer

Hi&nbsp;Mandy_L&nbsp;
&nbsp;
I just took a look into this and it looks like the repairs were applied to your online file and you should now be able to run the reports for that period.
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If you close and re-open AccountRight, can you run the General Ledger report for 01/11/2018?

haydes · Answer

Hi&nbsp;Mandy_L
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Out of curiosity, if you go to: Banking &gt; Bank Reconciliation and enter the relevant account and date, do you have any unreconciled transactions showing here?
&nbsp;
If you do, these will still add to the Account Balance but won't be calculated if left unchecked which could mean that the Reconciled balance is incorrect as you would need to check ALL transactions to make sure the Calculated Balance is married up to your actual Reconciliation Balance.
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&nbsp;
I would also recommend checking the Calculated Statement Balance, here's a good support note showing how to check this: Resolving out of balance bank reconciliations
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Keep me posted on what you find.

mandy_l · Answer

I think my whole file is corrupted.&nbsp; I went through and found that i had some hidden payments in my bank feed. these were the full amount of the EFT for 3 runs that i had done but did not match to the feed as i had paid them off from the overdraft account instead of the electronic clearing account. I have just gone back into disbursments and paid them all off electronically instead.Now i am missing the individual payments in my reconcillaiton window and i have no dispursment recorded in transaction journal.I can also confirm i have different expected balances under the 'find trans' under the accounts tab compared to the reconcilled expected balance.&nbsp;&nbsp;&nbsp;&nbsp;

mandy_l · Answer

MYOB please help.&nbsp; I am trying to complete our end of year (dec 31st) but cant until my balance sheet issue has been rectified.&nbsp;Can somebody check ny company file please?&nbsp;

haydes · Answer

Hi&nbsp;Mandy_L
&nbsp;
Hidden Bank Feeds don't add the Account balance at all and I do not believe this related to the issue.&nbsp;
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If you have compared the Calculated Balance to the Find Transactions Ending Balance for the same date range and they do indeed balance, this does not sound like a datafile corruption to me and seems to be an error in the data entry.
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What I'd be doing is running the General Ledger Detailed report for the account on a period after it reconciles and then you can see the balance changes after each transaction. This should be able to help identify any missing or incorrectly entered transactions that are affecting the balance.

mandy_l · Answer

Hi Hayden, Exactly what i thought - that hidden trans do not add to the balance. I have often hidden them in the past without a drama.&nbsp;The report will not allow me to do a trail balance from nov 1st which is the conversion date however the opening balance for my account on the 2nd Nov is around $25k out.&nbsp;I have only ever set up MYOB from the first day of the accounting system not part way though the year so am at a bit of a loss.&nbsp;&nbsp;

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Balance sheet main account not balancing

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