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jd98's avatar
jd98
User
3 years ago

Negative Balance in C.O.A

I was doing a bank reconciliation and kept getting an out of balance figure of $950.23.

 

I have found that this negative balance is in my chart of accounts, it appears in  1-1100 (bank accounts) & 1-1110 (business bank account 1) as a negative and 1-1171 (electronic clearing) as a positive.

 

Is there any way I can get this back to zero?

 

I'm new to this and inexperienced so any help would be appreciated.

 

Thanks

 

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  • Yanike_S's avatar
    Yanike_S
    MYOB Moderator
    3 years ago

    Hi jd98 

     

    Thanks for your post.

     

    This help article is very useful to learn more about out of balance accounts: Fixing out of balance bank reconciliations. Once you have narrowed down what transaction caused the out of balance you can fix this.

     

    To start I would recommend checking for transactions in Banking>>Prepare Electronic payments, it seems like that transaction hasn't been processed.

     

    You could also check your linked accounts: Accounting>Manage linked accounts to see if your electronic clearing account has been linked correctly. Read more about this here: Managing linked accounts.

     

    Let me know if you still have questions after reading these help articles.