An easy bank reconciliation relies on accurate data entry. Bank reconciliations should be completed on a regular basis. How often is regular? Well that really depends on the volume of data. Regular for some business may be daily, whilst many it will be monthly. Checking your business' bank statement regularly and keeping data entry up to date is a key to making bank reconciliation easy. We recommend only finalising your bank reconciliation at the end of each month so that your reports are for a full month - but that does not mean that you can't ensure that your records are up to date on a daily or weekly basis by simply checking your bank balance and your MYOB balance regularly. If you are reconciling your bank say to the 31st August then your balance in MYOB must match to the cent. If it does not, we recommend the following:

1. Work out the amount it is out by;
2. Check for any obvious typo's that may alleviate this out of balance amount. If still out;
3. Back track to the point in which the bank is in balance;
4. Move forward until you locate the out of balance figure.

In book keepoing - always follow the paper trail and back track to the point where you are in balance. Locate the point where you become out of balance and then fix the relevant areas.