When you reconcile an account for the first time using AccountEdge, some of the checks you wrote and some of the deposits you made before you began using MYOB AccountEdge will probably be reflected in your bank statement. In order to reconcile the account, these transactions must also appear in the Reconcile Accounts window.
Because you conducted the transactions before you began using AccountEdge, though, there will be no AccountEdge record of those transactions. This situation must be resolved before you can reconcile the checking account.
To resolve the situation, you must create a general journal entry. Each uncleared check you wrote and each uncleared deposit you made before using AccountEdge should be entered as line items on a general journal entry.
When you're ready to reconcile the bank account, each line of the general journal entry will appear in the Reconcile Accounts window. You'll then be able to reconcile these transactions as they appear on your bank statements as cleared transactions.
How to create the journal entry
Enter your bank account in the Acct # column for each entry in the Record Journal Entry window. Enter individual deposit amounts in the Debit column and individual check amounts in the Credit column.
It's unlikely that the debits will equal the credits in the Record Journal Entry window. If there is an out of balance amount, you'll need to enter another line item with an amount that balances the debits and credits.
For example, if the Total Debit amount is $1,280.57 and the Total Credit amount is $5,672.23, the out of balance amount is $4,391.66. You'll have to enter an additional line item showing $4,391.66 in the Debit column.
Because you've entered the same bank account for each line of the journal entry, your journal entry debits and credits the checking account for the same amount. That is, this journal entry won't affect the checking account balance.
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