I’ve been trying to understand on my own where did I go wrong but can’t figure it out. It might seems stupid but I’m wondering what I am supposed to do when my bank statement match all my MYOB transactions except for one which is a debit card.
Where I’m struggling is : since it hasn’t been mention during the whole exercise (nor in the initial data base I downloaded) and I also don’t have any tickets or receipt for it, I can’t possibly just tap it into Myob and problem solved. Which make me thing, should I input the debit card into the owner withdraw?
Just for my information, Do I need to have a receipt for this “personnal” use of the business’ card regarding the law?
Thank you very much.
Yes, you enter all transactions on the bank statement that are no already in MYOB.
In real practice you would need receipts but as this is a learning environment we can not provide you receipts to all bank transactions. which ledger to enter it is based on the description provided in the bank statement. If you are still struggling please raise a student support ticket.
I’m finding it confusing to add the required transactions to the bank statement before reconciling.
For instance I can see there are journal entries for $1,125 and $1,500 deposits but I am unsure how to bring these onto the bank statement. Can you please advise which function I use? Is it receive money / receive payment?
For the ‘PYMT online Multiple ABA’ could you also advise which function to use? Should I set up a supplier called ABA for instance which is what I did for the transaction for 5/2/18 ‘Software Partner Pty Ltd’?
I’m also confused about the cash cheque withdrawal line.
Lastly I accidently added two bank fee lines and not sure how to delete one. I took the amount out of it and now it comes up as VOID so I know its not being double counted, perhaps that is the best that can be done to avoid deleting transactions accidently?
Thank you in advance.
All 3 of the transactions you have spoken of should automatically appear in the bank statement for reconciling if you have completed the previous tasks.
You need to go back and ensure you have correctly completed the paying of bills and bank deposit of money received on invoices.
To delete a transaction open it using the white zoom arrow and then use the edit option from the top ribbon and choose delete function from the drop down menu.