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  • Reconciling bank accounts

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titleHave you set an opening balance?
Before you start, check that you have entered the correct opening balances, as on a particular date, for the bank account you're reconciling. You can do this from the Settings menu> > Accounts List page.. For detailed instructions, see Entering account opening balances.
  1. Open the cashbook for the relevant business.
  2. Go to Banking> Bank Reconciliation. The Bank Reconciliation page appears.
  3. Choose the bank account that you want to reconcile.
  4. From the details on your bank statement, enter:
    1. The dates that the bank statement covers, in the From and To fields
    2. The closing balance on the bank statement, in Closing balance at bank. If you have a bank feed set up for this account, this amount will appear automatically, but you can still edit the amount.

  5. Click Update. The transactions for that period will appear below.
    The Cashbook opening balance and the Cashbook closing balance also appear. If there is a mismatch with the Closing balance at bank, the relevant amount will appear in the Out of balance field.
  6. Compare all the transactions listed here with the transactions that appear on your statement, and check if the closing balances match. If there is a mismatch, you may need to review all the details again–including the opening balance as in MYOB Essentials Cashbook. You may also need to enter any missing transactions as required.

  7. If you want to save the reconciliation, click PDF. A PDF file of the reconciliation opens in a new window.