Partner Zone

Bank Reconciliation after latest upgrade to MYOB Essentials

Amanda31
Contributing User
6 Posts
Contributing User
Contributing User

6Posts

6Kudos

0Solutions

Bank Reconciliation after latest upgrade to MYOB Essentials

Since MYOB have upgraded the Essentials package last week when I go to reconcile I now have a vast number of transactions that were previously reconciled showing as unreconciled which puts my accounts out by a huge amount.

 

When talking to the MYOB Banking department helpline they have said I will have to reconcile each month - as far as I can see going back to July 2021. 

 

When asked if they can give me the backup of my accounts before they upgraded the system they said I will be charged $49.

 

Has anyone else had problems with this upgrade? I see from historic forums this is not the first time this has happened.

 

Kind Regards

 

Amanda

37 REPLIES 37
dottyZoe
3 Posts
Cover User
Australia
Cover User

3Posts

6Kudos

0Solutions

Re: Bank Reconciliation after latest upgrade to MYOB Essentials

I've had a problem with reconciliation too.  Unfortunately I didn't get one of my reconciliations finalised before the upgrade and now the figure is out.  Bank transfers to another of our accounts are not showing up although they are in the bank transaction list and are in the receiving account which was already reconciled.  There is also a small amount left in the out of balance figure that doesn't seem to match any transaction!!  Very frustrating.  

I was very disappointed that the upgrade occurred before the final date when BAS was due.

Didz
Experienced Partner
10 Posts
Experienced Partner
Australia
Experienced Partner

10Posts

2Kudos

0Solutions

Re: Bank Reconciliation after latest upgrade to MYOB Essentials

Hi Amanda,

 

I had the same issue after the latest upgrade. For one of my clients, the bank reconciliation at 31 Jul 22 is out . Deposits and cheques that were previously reconciled are now appearing as outstanding (some dating back to 2016!!). It was reconciled at 30 Jun 22 with no outstanding amounts. 

 

 

TopDogAlex
Contributing Cover User
8 Posts
Contributing Cover User
Australia
Contributing Cover User

8Posts

1Kudos

0Solutions

Re: Bank Reconciliation after latest upgrade to MYOB Essentials

I wondered why there were all these past reconciled transactions showing on last months bank rec! I just selected them all again and ensured remaining true monthly reconciliation was fine and balanced.  Hadn't realised that there had been an upgrade

ChrisMYOB
MYOB Moderator
1,152 Posts
MYOB Moderator
MYOB Moderator

1,152Posts

77Kudos

132Solutions

Re: Bank Reconciliation after latest upgrade to MYOB Essentials

Hello all

 

When MYOB Essentials has upgraded the Bank reconciliation in the upgraded business will be based on the last completed reconciliation in your old software. 

 

If something doesn't look quite right, it may be that there was a bank rec that was saved, but not completed, in your old software – only completed bank recs are migrated during the upgrade.

 

If that's the case, you will need to redo the bank rec.

 

For the steps on doing a bank rec in your new MYOB, please have a look at this linked Help Article on Reconciling your bank accounts.

Kind regards,
Chris

MYOB Community Support

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

kestrel2
Experienced Cover User
41 Posts
Experienced Cover User
Experienced Cover User

41Posts

5Kudos

0Solutions

Re: Bank Reconciliation after latest upgrade to MYOB Essentials

So glad its not just me. Did you get a solution?

peterdata
2 Posts
User

2Posts

0Kudos

0Solutions

Re: Bank Reconciliation after latest upgrade to MYOB Essentials

Hello yes I read this blog which i am experiencing as well i dont think it a incomplete reconciliation

but a bug that i have noticed its only the wages.

reading the help articles it said to delete the wages then re enter them tried that and it wont allocate the pay run befor the upgrade

Enough
Experienced User
14 Posts
Experienced User
Experienced User

14Posts

4Kudos

0Solutions

Re: Bank Reconciliation after latest upgrade to MYOB Essentials

The only solution I found was to 'undo' any reconciliations and re-reconcile.  All my transactions were there so I just selected ALL transactions for each bank statement date so it didn't take too long.  The new bank rec report is different now though and lists ALL your bank accounts for thata date which is stupid.

Enough
Experienced User
14 Posts
Experienced User
Experienced User

14Posts

4Kudos

0Solutions

Re: Bank Reconciliation after latest upgrade to MYOB Essentials

Peter if it is just your wages that are showing as unreconciled (this is what happended to mine), I had to go through each reconciliation to the earliest payroll date that is still listed as unreconciled, and 'undo', then re-reconcile your bank statements.  Assuming all your transactions were migrated with the upgrade, it's doesn't take too long, just enter the bank statement date, click the 'select all' box at the top and the balance should be correct. 

It's a pain!  Hope this is a fix for you and doesn't take too much of your time. 

dottyZoe
3 Posts
Cover User
Australia
Cover User

3Posts

6Kudos

0Solutions

Re: Bank Reconciliation after latest upgrade to MYOB Essentials

Hi again,

Just thought I'd update on what I've managed to sort out so far.  I discovered that a big part of the problem was that MYOB had created another account of it's own accord, naming it "Undeposited Funds Account" and was allocating payments made by my customers using MYOB online payments to that account!!!  So there have been things going on in the background of the system without my knowledge or input.  I'm hoping there isn't too much more like that.  My husband has suggested we should try billing MYOB for the time I've had to spend sorting out these issues.  Oh if only we could!

Didn't find your answer here?

Try using advanced search to find a post more easily Advanced Search
or
Get the conversation started and make a new post Start a Post