USD account Bank reconciliation

Contributing Cover User feelgood1
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USD account Bank reconciliation

HI, support team

After we upgrade our MYOB to Account Right (was Premier V19), this is our first time to do USD account bank reconciliation. the last reconciliation for bank end 22/3/2019 was all good in V19. But now, ending of 22/3/19 with out of balance 2.8M? and I couldn't see openning balance in there. There are some trasnactions in 2015, 2016, 2017... showed up. I looked into it, all of them are reclated with buying USD. which was recorded into foreigh exchange account, but now MYOB AR don't have that account any more. please let me know how to adjust these trasnactions and do USD bank reconciliation?

Thanks!

Rachel

 

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Experienced Cover User Lara10
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Re: USD account Bank reconciliation

Following too as we have the same issue when reconciling our USD account.

 

Contributing Cover User feelgood1
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Re: USD account Bank reconciliation

HI, MYOB support team

please provide a solution. Thanks!

Rachel

MYOB Moderator Theresa_D
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Re: USD account Bank reconciliation

Hi @feelgood1 @Lara10 

 

Thanks for your post.  As classic v19 and AccountRight live are different products, there are some different functions regarding multicurrency.  See How is multi-currency different from AccountRight v19 for more details. 

 

Also see Working with multiple currencies for information on what you're working on.  If the function is not available it would be worth looking into extending your software (add-ons) to perform the function you need. 

 

I hope this helps. If this answers your inquiry please mark 'Accept as Solution' to help other users with this question find this post easier.   

Cheers,
Theresa

MYOB Community Support

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Contributing Cover User feelgood1
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Re: USD account Bank reconciliation

HI, Theresa

Thanks for reply.

But your links is general information only. No any information related with my issue.

your solution is not accptable. Please look into it, and give a real solution.

 

Rachel

 

MYOB Moderator Theresa_D
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Re: USD account Bank reconciliation

Hi @feelgood1 

 

If you have set up multi-currency per the articles I linked, then reconciling should be the same process as usual in AccountRight.  See image below for reference/display of currency

 

Untitled11.png

 

The bank reconciliation window is correct so if the figure is out of balance then it's a matter of figuring out where the figures are off.  I'll link Resolving out of balance bank reconciliations for reference. Since I do not know your specific setup and how things were changed after the upgrade, it is best you review these figures with your accountant.  

 

Our partner @BooksInTheCloud has experience with clients who have switched from one software to the other and may be able to provide additional input. 

 

I hope this answers your inquiry, if so please mark 'Accept as Solution' to help other users find this post easier. 

Cheers,
Theresa

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Ultimate Partner BooksInTheCloud
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Re: USD account Bank reconciliation

Hi @feelgood1 & @Theresa_D 

 

This is an issue with the upgrade whereby multi-currency bank accounts are not reconciling.   They need to be logged with the MYOB data repair team to be fixed.   I have had two so far that are out of balance needs to be fixed at the back end. 

 

Regards

Renae


If I am responding to your query and I have helped you please kindly mark my post as a solution to assist others in the future.
Warm Regards
Renae

@renae2peas
Contributing Cover User feelgood1
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Re: USD account Bank reconciliation

Thanks, @BooksInTheCloud ; @Theresa_D 

Yes. @BooksInTheCloud  is point out the point. 

So we have to lodge it with MYOB data repair team. From my upgrade experience, That will be take a long time to get through to speak to a technician and get data upload and fixed.

But Thanks here anyway !!

 

Rachel

Ultimate Partner BooksInTheCloud
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Re: USD account Bank reconciliation

Hi @feelgood1 

 

Yes, unfortunately, you have to call support and clearly explain the issue and go through the process of data repair.   Agree a  little frustrating but the only way it will get resolved.  


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Renae

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Experienced Cover User Lara10
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Re: USD account Bank reconciliation

Thanks @BooksInTheCloud  - I have been expecting a general fix for this and am waiting on the outcome, now I hear we have to phone up to rectify ??  Will be doing this, I have been waiting patiently (hopefully) and regularly checking reconciliation! 

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