Join Elizabeth Haverfield for an in-depth discussion in this video Reconciling the cheque account, part of MYOB AccountRight Essential Training.
In this video we will complete the third process of reconciling Carol's NAB cheque account. In the previous two videos we matched the transactions with the bank statement and we entered the interest charge. Notice that all of our transactions that appear in the bank statement are now selected with the tick in the Reconcile Accounts window. And that our out-of-balance is now zero. The new statement balance field and the calculated statement balance field both display 13,556.75.
We are now ready to finalize the reconciliation. Down in the bottom-right corner, click onto Reconcile. A message appears which confirms that the account reconciles. We could use the Print Report feature in this screen to print a copy of the bank reconciliation. This time, let's simply complete the reconciliation by clicking Reconcile. All the transactions marked with a tick are removed from the Reconcile Accounts window. In our example, this leaves the window empty.
In other months there may be other transactions that have not been presented at the bank, which would remain in the Reconciled Accounts window to be used next time. Click Cancel to return to the command center.
- Creating a company file
- Setting up tax codes
- Adding accounts
- Creating customer and supplier cards
- Performing a bank reconciliation
- Recording transactions
- Invoicing a customer
- Processing payments
- Entering and paying bills
- Recording cash sales
- Reconciling check accounts
Skill Level Beginner
1. Getting Started with MYOB
2. Working with the Accounts List
3. Adding Cards
4. Entering Historical Balances
5. Performing an Initial Bank Reconciliation
6. Backing Up and Restoring a Company Data File
7. Spending Money from the Cheque Account
8. Invoicing a Service Customer
9. Recording Customer Payments
10. Entering and Paying Bills
11. Receipting Cash Sales
12. Reconciling the Cheque Account
Next steps1m 56s
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