Client emailed SOS!
I have hit a speed bump I think…trying to do the MYOB bank reconciliation but it says Out of Balance, and have checked off all transactions that I have in my system and matched to the bank statement, only have one fuel that hadn’t showed up yet but they can take a few days. I have checked my MYOB book and have come up blank..
Should my New Statement Balance (closing balance on the bank stmt) and my calculated statement balance match???? It is telling me that I am out of balance???? The more I am thinking about it the more I am confusing myself!!!!! ThanksJ
Solution – yes the New Statement Balance (closing balance on the bank stmt) and my calculated statement balance must match, and then the Out of Balance will give 0.00 – meaning they are NOT out of balance! You type in the New Statement Balance as the amount from the end of the bank statement (closing balance).
When it is still out of balance, check
- Haven’t ticked off a transaction by mistake
- Haven’t missed a transaction – eg see if you can find a transaction for the same amount as the out of balance