We've just started receiving online payments minus the merchant fees as advised by MYOB but it doesnt seem to be automatically reconciling. The amounts obviously dont match and are out of balance.
We have attempted to sort this out ourselves, we gone through the online support about "Changes to how you pay for online payments" But we cant seem to be any wiser. Going into the Online Payment Portal, and check the ledger accounts but they appear to be the appropriate ones. However we cant seem to sort this issue out.
Can someone please advise what we are not doing and help make transactions automatically reconcile as its supposed to?
I understand you are having the same issues. I recommend you follow all the workaround given by users and moderators alike. If you continue having issues after going through the troubleshooting steps, I highly suggest contacting our live chat. To get through to a live chat agent, you will need to contact our virtual assistant, MOCA through myob.com/support. Don't worry, if MOCA can't provide the help you need, our live chat team is just around the corner to pick up from where MOCA left off.
We have dug through the MYOB reports section and found Online Invoice Payments Transaction details (at the bottom of the page). In this report you can see all the information relating to online payments and we can see a difference in the amounts for invoices sent out and payments received for he same invoices. An example of this is 2 invoices that we sent out which came to a total of $201.08 yet the unallocated amount showing received for these 2 invoices is $200.91. This means we are unable to manually match these payments to the invoices as they are not equal. There is a difference of $0.17 between the invoice amount and total amount received. When we look at the fees applied and surcharge GST, there are 2 x $0.25 ($0.50) fees applied and surcharge GST of $0.33. This equals the difference in the amounts above, IE $0.50 - $0.33= $0.17. Below is a copy of the online payments transactions we are referring to. We have removed all confidential information from this.
This shows that the way in which MYOB has changed the process for managing the online payments is affecting the software's ability to automatically match transactions. Prior to these recent changes we have not had this issue. Hope this helps get the issue resolved as we are yet to here back from Tech support. I'm open to any suggestions on how to fix this issue. Thank you, Matt
We don't pass on the surcharge to customers so this is a little different from our issue, we only account for one total "fee". But you are pretty much experiencing the same issue that we are. I believe MYOB is not recording the "automatic" transaction.
When you take a look at the online article they keep referring to - you can expand to see the "when transactions are automatically recorded". In our system this transaction is not being recorded at all, but when we do it manually the bank feed matches up.
If you scroll down to the 'If you pass on the 1.8% surcharge (and there's GST on the invoice)" this is the transaction you will likely need to manually record (this is what we do but we use 'we do not pass on the surcharge'- I am assuming your issue is this transaction though).
I've taken your report and created a spreadsheet of the last transaction for the MYOB deposit. Using the formula MYOB has given it looks correct to account for the 0.17 difference you have.
If you record the transaction as a spend money transaction against your customer's card file it should offset the amounts and allow your bank feeds to match up. You will need to ensure the invoice is closed as well and that the date matches your bank feed (this is what we do anyway).
NOTE- I am not an accountant nor do I work for MYOB, so use it at your discretion. The received money transaction for each customer would be on the right. You need to allocate to your appropriate ledger accounts.
I've also included a snapshot of what is in the article.
Hope this helps, but more so I hope MYOB fixes the issue soon as I am also yet to hear back from tech support.
We too are having an issue with automatic matching of payments received. This has only started since the change in way online payments are processed. I assume our amounts don't match due to the merchant fees/transaction fee being taken out. Have you had any luck with a reply on here regarding a work around? We have emailed tech support 2 days ago and yet to hear back. Thank you, Matt
Thanks for reaching out and sharing your experience. Hopefully someone answers our cries. Unfortunately we haven’t resolved this yet. I attempted to go through to support with MOCA but didn’t get anywhere.
We have the two issues. The main one being the payments not automatically reconciling and then the outstanding payments
And we have set up everything as advised. Would be nice to get a response soon.
hopefully the more noise we make the sooner we get heard
I am having exactly the same issue since the fees are being deducted from each invoice.
I've also raised this question with MYOB yesterday. Hopefully, we will have a solution soon. The MYOB online payments webpage that is used to troubleshoot has not helped diagnose the issue.
At present, none of the automatic transactions are being completed in our system.
I have done the troubleshooting against the "automatically matching invoice payments" and it gives no answers to our issue.
Previously, the automatic transactions worked fine before the fee started being taken out on each invoice.
I have quadruple-checked that our ledger accounts are all set correctly in the online invoice payments platform, and have changed our system preferences as recommended.
So we are now having to manually record each fee through a spend money transaction, and also manually record the customer payment. By doing the tasks that MYOB is meant to automatically complete, the bank feeds match up.
If I work out what is causing our issue I will let you know.
Claire
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