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 AccountEdge 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 AccountEdge reconciliation process.
Select the space bar if you'd like to enter a date using AccountEdge's Calendar window.
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 AccountEdge 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.
If you'd like to use a calculator, select the plus sign ("+"), the asterisk ("*"), the equal sign ("=") or the space bar on your keyboard to launch the Calculator window.
Calculated Statement Balance
This field displays the calculated balance of the account you entered in the Account field.
The calculated balance is the total of all previously cleared and reconciled transactions prior to the date that is entered in the Bank Statement Date field. (If the account has never been reconciled this field shows the opening balance for the account.)
Out of Balance
This field displays the currency difference between the amount in the Calculated Statement Balance field (the balance of the account in AccountEdge 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.
Checkmark (To be reconciled) 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 check 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 check mark doesn't appear in this column, click the column to add a check mark.
Click the checkmark button at the top of this column to mark all the items in the list. Click again to clear all marks from this column.
If you download bank or credit card statement files to your computer, MYOB AccountEdge 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:
Bank Entry button
Click this button to open the Bank and Deposit Adjustments 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 AccountEdge and open the Unmatched Statement Transactions window.
Use the Open dialog box to find the file you downloaded from the Internet. (The file formats that are supported by MYOB AccountEdge 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:
In the Unmatched Statement Transaction window:
Warning: If you use the MYOB Merchant Account Service, we recommend that you don't select the option to authorize using the Record button. (Using the MYOB Merchant Account Service) If an already authorized transaction that isn't yet entered into AccountEdge is included in the Unmatched Statement Transaction window, you could inadvertently, authorize the transaction when you click the Record button in this 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 # button
Click this button to redisplay all transactions in the list by the numbers that they were assigned.
Reconcile button
Click this button to attempt to reconcile the calculated balance of this account with the balance shown on your bank statement.
AccountEdge 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. AccountEdge 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 AccountEdge 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.