Forum Discussion

Kim_MISC's avatar
Kim_MISC
Experienced User
4 years ago
Solved

Allocation error in bank feeds

When I try to allocate a bank feed to an order in AccountRight, I get an error message saying    'you must specify an allocation account'.   To match orders, I have to go to the sales screen and ...
  • Julie_A_C's avatar
    Julie_A_C
    4 years ago

    Hi Kim_MISC 

     

    I don't think it is a MYOB error, i think you have not set up your linked accounts correctly to be able to receive a deposit on an order.

     

    Up top under set up, go to linked accounts>sales and tick I track deposits collected from customers.  If you haven't already created a liability account for it then you would do that now and it will be gst code not reportable.

     

    Then you should be able to allocate your deposits received on orders.

     

    When the order is fulfilled and converted to an invoice, MYOB will automatically do an entry inthe background to transfer the money from the liability account Deposits on orders.

     

     

Julie_A_C's avatar
Julie_A_C
Partner

Hi Kim_MISC 

 

I don't think it is a MYOB error, i think you have not set up your linked accounts correctly to be able to receive a deposit on an order.

 

Up top under set up, go to linked accounts>sales and tick I track deposits collected from customers.  If you haven't already created a liability account for it then you would do that now and it will be gst code not reportable.

 

Then you should be able to allocate your deposits received on orders.

 

When the order is fulfilled and converted to an invoice, MYOB will automatically do an entry inthe background to transfer the money from the liability account Deposits on orders.

 

 

Kim_MISC's avatar
Kim_MISC
Experienced User
4 years ago

HI & thanks for the tip.

 

I understood if the order was paid in full, the order is converted to an invoice and the payment allocated in the same transaction.  Not sure I saw a reference to this requirement in the documentation.  

 

Your help is greatly appreciated.