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Reconciling makes sure your MYOB Essentials' bank records match the records kept by your bank. Doing this regularly helps keep your business records accurate.
Here's a quick explanation of reconciling:
How you reconcile depends on whether you use bank feeds, import bank statements, or only use paper bank statements (the ones posted to you by the bank).
- If you've set up bank feeds or you import bank statements into MYOB Essentials, see Reconciling unmatched MYOB Essentials transactions.
- If you use paper bank statements, you’ll need to check your MYOB Essentials transactions against this statement. See Reconciling with a paper bank or credit card statement.
Made a mistake? Undo the reconciliation.
Using Essentials Accounting Starter? Each month you're limited to receiving and reconciling 25 bank transactions. See MYOB Essentials products for more information.
Why is my bank balance different to my MYOB Essentials' balance?
Bank and credit card account balances might differ from the balance in MYOB Essentials because of:
- Incorrectly allocated invoices or bills
- An incorrect opening balance
- Future-dated transactions
- Missing bank feed transactions
To learn more, see Why is my bank balance different to my MYOB Essentials balance?
Rachael is an MYOB Essentials pro who's written lots of help topics - including this one. She'd love your feedback to help make it better.