Bank Reconciliation

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Contributing Partner Mauraid
9 Posts
Contributing Partner
Australia
Contributing Partner

9Posts

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Bank Reconciliation

Why are you able to complete a bank reconcilation with unallocated transactions.  This is very dangerous and should not be an option.  Also when going to allocate bank transactions why is there a date range, all unallocated transactions should appear, this is very dangerous as transactions get missed and the bank reconciliation still allows you to reconcile, particularly as you have to print a report to see unreconciled transactions.  This breaks all accounting rules and needs to be fixed.

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MYOB Moderator Steven_M
32,904 Posts
MYOB Moderator
New Zealand
MYOB Moderator

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Re: Bank Reconciliation

Hi @Mauraid 

 

When you import a transaction or receive a transaction in via a Bank Feed this particular transaction is typically marked as reconciled. The reason for this is that as the transaction has come directly from the bank and thus as the bank has recognised that transaction it will be marked as Reconciled. This does include if the transaction has been unallocated at the time of reconciliation. 

 

In terms of the Bank Transactions window, there is a series of filters on the window to give the user the option to filter their transactions listed on the window by listed filters. While we do recommend the user expand out the date ranges where possible to include past or future-dated transactions there is no requirement to do so it up to the user to set the filters for that window.

 

To my knowledge, we don't have any immediate plans to make unallocated/bank transactions coming from bank be auto reconciled/included in reconciliations. This is the same for the filters on the Bank Transactions window it is user choice to set those filters accordingly.

Kind regards,
Steven

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Contributing Partner Mauraid
9 Posts
Contributing Partner
Australia
Contributing Partner

9Posts

41Kudos

0Solutions

Re: Bank Reconciliation

I am sorry I don't agree, this breaks all the rules for reconciliation, and unreconciled item can only be that.  And having a date range for unreconciled transactions is just plain dangerous, transactions are missed and bank accounts are falsely reported as reconciled.

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