To ensure the accuracy of your business records, you should match your bank accounts' balances with the bank records you keep in MYOB AccountEdge. This task is called reconciling accounts.
Reconciling an account for the first time
If this is the first time you've reconciled an account using MYOB AccountEdge, be sure to see Reconciling an account for the first time using AccountEdge before you start to reconcile your account.
Downloading statements
If you download bank or credit card statement files from the Internet to your computer, MYOB AccountEdge automatically 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. (Using downloaded statements)
Note: If you use the MYOB Merchant Account Service and the Get Statement feature
Once you're sure all the checks, deposits and bank fees that appear on your bank statement are entered in AccountEdge, you're ready to reconcile your account. (Using the Bank Entry Feature)
If you decide to exit the Reconcile Accounts window without successfully reconciling a checking account, the transactions marked as cleared remain marked. You can pick up where you left off at any time.
Step by step