We started a new Myob file at the beginning of the FY and had an opening balance for the undeposited funds account. The opening balance amount is not showing up in the 'Prepare Bank Deposit' screen which means I can't deposit the correct amount. How do I fix this and retain the correct account balance?
Hi CarolDuncan,
Thank you for your post and welcome to the Community Forum.
If payment transactions are not appearing in the Prepare Bank Deposit window, go to Setup>>Linked Accounts>>AccountRight & Banking Accounts and check the account selected for Bank Account for Undeposited Funds. Typically, this would be the undeposited funds account.
Then go to Transaction Journal>>Receipts tab>>Locate one of the payment transactions>>click on the zoom arrow to open the transaction and check the Deposit to account is the same account as selected in Linked Accounts.
If it is the same account, in the Prepare Bank Deposit window make sure the filters are correct. Also check that the bank deposit transaction has not already been recorded. If the account is different, you will need to change the Deposit to account in the payment transaction to the account selected in Linked accounts.
If the issue persists, please provide me with the screenshots of a payment transaction, the linked accounts window and the Prepare Bank Deposit window.
If my response has answered your enquiry, please click "Accept as Solution" to assist other users find this information.
Kind Regards,
Cel
Hi Celia_B,
Thanks for your reply. I don't think I have explained myself well enough.
When setting up a Myob file, there are opening balances entered (unless a new business). We had undeposited funds in our old system, so there was an 'undeposited funds' opening balance entered ie. we received the funds before setting up this file ie. before 1/7/23.
I have taken all the undeposited funds to the bank now and am unable to create a bank deposit because the opening balance amount is not there, only the funds received since 1/7/23. If I tick all of the deposits, the deposit amount is short the account opening balance amount. I've attached a screenshot. The account opening balance amount is $1,228. The deposit should equal $1,228 plus all the deposits seen in the screenshot.
I think I may just have to do the bank deposit as is and then do a journal for the remainder ie. what was entered as an account opening balance.
