not balancing in the reconciliation with the bank statement

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jam1
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not balancing in the reconciliation with the bank statement

hi this is my first time using the reconciliation on myob essentials, and the part where it says the calculated bank balance , it is not the same as my bank statement. I've went to the opening balance and made sure that is the same which it is now. But it hasn't changed it on the reconciliation. I have double checked that every thing is matched up when I added it and they are all right. When I printed out the report for the bank transactions the opening balance doesn't start from with the right amount. is there some where else I need to chance the opening balance?

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Super User sholt73
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Re: not balancing in the reconciliation with the bank statement

I'm not well versed in Essentials as such but I do remember that it's very different to how AccountRight does things. from memory the "MYOB Essentials Balance" is the figure you should compare as the calculated only updates when you tick off everything but ticking everything will just equal the Essentials balance.

 

so if the Essentials balance is wrong anyway then you'll see it's wrong when ticking the transactions anyway. if the MYOB Essentials balance is correct then start ticking away and you'll see the calculated change.

 

that's based on an email I received from myob support a few years ago. hope this gives you something to track down.

muppit
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Re: not balancing in the reconciliation with the bank statement

I just started using MYOB essential and found that you can close a reconciliation for one month without balancing  the previous year. How can this be possible?

MYOB Moderator Theresa_D
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Re: not balancing in the reconciliation with the bank statement

Hi Everyone, 

 

Just wanted to jump into the conversation to provide some resources for reconciling in Essentials.  If you have further questions after working with this let me know. 

 

Reconcile transactions

Reconciling with a paper bank or credit card statement

Reconciling unmatched MYOB Essentials transactions

 

I hope this helps.  If your inquiry is resolved please mark 'Accept as Solution' to help other users find this information easier. 

Cheers,
Theresa

MYOB Community Support

Online Help| Forum Search| my.MYOB| Download Page

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muppit
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Re: not balancing in the reconciliation with the bank statement

Thanks will have a read.Smiley Happy

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