Fields in this window
Reconcile Accounts window

Window Overview | To use this window | Fields in this window | To find this window


Account

Enter the account you want to reconcile, or click the search arrow to display a search list of accounts you can select from.

After you enter an account, many of the fields will display current information about the account.

Last Reconciled Date

If you've previously reconciled this account, the date this account was last reconciled appears in this field. This field is updated with the date you enter in the Bank Statement Date field when you complete the Accounting Plus reconciliation process.

If you've never reconciled this account, no date will appear in this field.

Bank Statement Date

Enter the date that appears on your bank statement.

Your entry here will be used to update the Last Reconciled Date field when you complete the Accounting Plus reconciliation process.

New Statement Balance

Enter the ending balance that appears on your bank statement for this account, or accept the default amount, which is the balance in Accounting Plus for this account as of the statement date. If the default amount is the same as the amount on your bank statement, it's likely that all the transactions in the list below have been recorded by the bank.

Calculated Statement Balance

This field displays the calculated balance of the account you entered in the Account field as of the date you entered in the Bank Statement Date field.

Out of Balance

This field displays the difference between the amount in the Calculated Statement Balance field (the balance of the account in Accounting Plus as of the statement date) and the amount in the New Statement Balance field (the balance of the account according to your bank). The account isn't considered reconciled until this amount is zero.

x column

This column is used to designate which transactions in the list have been recorded by the bank, as indicated on your bank statement. All transactions with a mark displayed in this column are marked to be reconciled; if a transaction hasn't been recorded by the bank yet, click the mark to remove it. If a transaction has been recorded by the bank and a mark doesn't appear in this column, click the column to add a mark.

If you download bank or credit card statement files to your computer, MYOB Accounting Plus matches transactions from the statement file to those within your company file. Once the match takes place, that transaction is marked in this column as cleared.

When you complete the reconciliation process, all marked transactions will be removed from the list.

Mark All Cleared Transactions column

This column displays the unreconciled transactions that you've assigned to this account. The list displays only the unreconciled transactions that have a date on or before the bank statement date you specified in the New Statement Balance field. Remember to click the Record button in transaction entry windows such as Receive Payments or Record Journal Entry to fully record the transactions you enter before you use this window.

Deposits column

This column displays the amounts assigned to receipts transactions in the list.

Withdrawals column

This column displays the amounts assigned to disbursements transactions in the list.

Total Cleared

This field displays the totals of:

  • All the amounts in the Deposits column
  • All the amounts in the Withdrawals column
Bank Entry button

Click this button to open the Record Service Charges and Interest Earned window, where you can enter the bank charges and interest payments that appear on the bank statement you're using to reconcile your account.

Get Statement button

If you download bank or credit card statement files to your computer, click this button to locate a statement file and bring it into MYOB Accounting Plus and open the Unmatched Statement Transactions window.

Use the Open dialogue box to find the file you downloaded from the Internet. (The file formats that are supported by MYOB Accounting Plus for automatic matching are: OFX, OFC, QFX, QIF. Contact your bank or credit card company to receive instructions for the actual downloading procedures.)

The process that occurs when you do this is:

  • MYOB Accounting Plus matches transactions from the statement file to those within your company file. Once the match takes place, that transaction is marked as cleared in the Reconcile Accounts window.
  • If no match is made, the transaction remains on the list that appears in the Unmatched Statement Transactions window.

In the Unmatched Statement Transaction window:

  • You can match an unmatched bank or credit card statement transaction to a previously recorded transaction in your company file or add an unmatched statement transaction to your company file.
  • If you choose to match the transaction, the previously recorded transaction is marked as cleared in the Reconcile Accounts window.
  • If you choose to add the transaction, the new transaction automatically matches to the statement transaction and is marked as cleared in the Reconcile Accounts window.
Print button

Click this button to print the Reconciliation Report.

Date button

Click this button to redisplay all transactions in the list by the dates they were recorded.

ID No. button

Click this button to redisplay all transactions in the list by the numbers that they were assigned.

All button

Click the All button to designate that all of the transactions in the list are cleared.

None button

Click the None button to designate that none of the transactions in the list have been cleared.

Reconcile button

Click this button to attempt to reconcile the calculated balance of this account with the balance shown on your bank statement.

Accounting Plus will calculate a new balance by removing the transaction amounts that were marked in the list, adding all uncleared withdrawals to the calculated balance and subtracting all uncleared deposits from the calculated balance. Accounting Plus will then compare the new calculated balance amount with the amount in the New Statement Balance field.

If the new account balance doesn't match the amount in the New Statement Balance field, an alert message will appear, showing you the amount by which the two amounts differ. When you click OK in this message, the difference will be displayed in the Out of Balance field.

If the new MYOB Accounting Plus account balance matches the amount in the New Statement Balance field, an alert message will appear, informing you that you can complete the reconciliation process. Click the Reconcile button in this message to remove all transactions that have been recorded by the bank from the list in the Reconcile Accounts window.

Cancel button

Click Cancel to close the window. If you've marked some transactions to indicate that they are cleared transactions, those marks will continue to be displayed the next time you open the window.