Reconciling existing Bank Statement to new Company File

[kip]

Hi there, I am currently setting up a friends business in MYOB. His
business is already existing and I am trying to reconcile his bank
statement. The problem I am having is where do I get last months
closing balance into MYOB, which is obviously this months opening
balance, so that I can enter this months closing balance and reconcile
activity this month.

Also there are a lot of cash purchases as we are getting ready for BAS
I have posted these to a cash account is this the right way to go as it
is showing that cash is in the negative.

If anyone could help that would be great.

Thanks

Kip

[Chris Gunn]

Post by kip
Hi there, I am currently setting up a friends business in MYOB. His
business is already existing and I am trying to reconcile his bank
statement. The problem I am having is where do I get last months
closing balance into MYOB, which is obviously this months opening
balance, so that I can enter this months closing balance and reconcile
activity this month.

Howdy,

The opening balance is a question MYOB should have asked when you initially
set up the checking account. If it won't let you go back and fix it, enter
a deposit for the beginning balance with a note to tell you why it exists.

Chris