The MYOB Receivables Reconciliation report is a report that matches the outstanding customer balance at a selected date and compares it to the trade debtors account in the balance sheet.
There are instances that there will be an out of balance amount in the MYOB Receivables Reconciliation Report, resulting from timing differences and also could be due to incorrect entries. It is very important to ensure that the out of balance amount is zero as this will result in differences in your balance sheet and individual customer ledger.
In the below example, there is an out of balance of $5 in the Receivables Reconciliation Report.
In the example below, the trade debtor account(1-2000) is being allocated resulting in the out of balance amount. The correct account to be allocated should be the Income account.
Please take note that a linked account should never be used in the Enter Sales module. There are certain techniques that our technical support consultants undertake to narrow down the causes and possibilities of the out of balance amount. With this expertise, and we aim to provide prompt remedial advise to our customers.
