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Experienced User
Action
Posts: 73
Registered: ‎08-11-2010
New Zealand
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Accepted Solution

Undeposited Funds

Hi All

 

I created a customer order as we did not have stock of all items.  The customer paid in full and I receipted his payment against the purchase order to the "undeposited funds" account by mistake/with out realising.  I've just gone to reconcile my bank account and of course have now picked up this error.

 

I have gone into transaction journal and clicked on the transaction however I don't have the option of changing it to my cheque account at the top of the receive payments screen like I do with every other transaction.

 

Can anyone tell me how I can change this received payment from undeposited funds to cheque account please?

 

I am very confused.

 

Many thanks in advance.

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Ultimate Partner
CathieR
Posts: 933
Registered: ‎30-03-2009
Australia
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Re: Undeposited Funds

Go to banking/prepare bank deposit

The deposit to account should be your bank account.

Change the date to the date the money was banked.

Tick the deposit that is causing problems and record.

This will transfer the entry from Undeposited Funds into the Chq Account.

Cathie Robilliard
BCom. (Acc/Finance) UNSW
MYOB Certified Consultant
BAS Agent
email:cathier@optusnet.com.au
Servicing Sydney South, NSW
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Ultimate Partner
Geoff_
Posts: 1,199
Registered: ‎21-11-2007
Australia
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Re: Undeposited Funds

Hi there

 

If it were me I would try to delete the entries and re imput the receipt?

Geoff
Busselton Bookkeeping Service - Bookkeeper and
MYOB Certified Consultant , BAS Service Provider,
Servicing Busselton, Vasse, Yallingup, Cowaramup, Margaret River, Dunsborough, Augusta
www.busseltonbookkeeping.com.au
e-mail geoff_bookkeeper@hotmail.com
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Experienced User
Action
Posts: 73
Registered: ‎08-11-2010
New Zealand
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Re: Undeposited Funds

Thanks for both of your suggestions, however neither of them have worked.

 

I was able to deposit to bank account however the transaction still did not show up and reconciliation and I havn't used this feature before I have now deleted the deposit (who knows what drama's it may cause me).  I tried deleting the payment, the invoice the order everything to do with this transaction etc however MYOB just kept telling me that I may not delete a deposit transaction for a recorded sale.

 

So now I am completely stuck, MYOB drives me nuts.

 

Thanks again for your suggestions.

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Ultimate Partner
CathieR
Posts: 933
Registered: ‎30-03-2009
Australia
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Re: Undeposited Funds

The "Prepare Bank Deposit" should show in the bank reconciliation.

I would try it again and make sure the "Deposit to"  account is the bank account you are reconciling.

Also make sure the date is the date of the actualy bank deposit.

 

After entering check the allocations by going to the transaction journal/receipts and make sure it is going to the right bank.

Cathie Robilliard
BCom. (Acc/Finance) UNSW
MYOB Certified Consultant
BAS Agent
email:cathier@optusnet.com.au
Servicing Sydney South, NSW
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Ultimate Partner
Mike_James
Posts: 2,415
Registered: ‎08-05-2007
New Zealand
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Re: Undeposited Funds

I'd go with Cathie's suggestion.

 

It is indeed very difficult to reverse payments applied against an order, but you don't need to do that either. (If you ever do, search the support notes first).

 

It is possible that you needed to refresh the bank reconciliation screen so as to see the new deposit. Refreshing screens is sometimes necessary in this new program, whereas it has not been required in the past. To refresh the bank rec screen,, select any transaction line on the bank rec screen, and right-mouse click, then choose Refresh. (If you select a header field, this option won't appear). Some other screens have a refresh button (circular arrow) in the top right corner.  

 

Or, record the deposit before opening the bank rec screen.

Regards Mike (mike@datawise.co.nz)
DataWise Limited (www.datawise.co.nz), developers of:
DataWise ProActive - Multi-user cross-platform sales management add-on
DataWise Report Writer - Specialised Reporting from MYOB programs
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Ultimate Partner
Geoff_
Posts: 1,199
Registered: ‎21-11-2007
Australia
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Re: Undeposited Funds

Hi Cathie

 

Maybe it has something to do with the dates? Just a thought

Geoff
Busselton Bookkeeping Service - Bookkeeper and
MYOB Certified Consultant , BAS Service Provider,
Servicing Busselton, Vasse, Yallingup, Cowaramup, Margaret River, Dunsborough, Augusta
www.busseltonbookkeeping.com.au
e-mail geoff_bookkeeper@hotmail.com
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Ultimate Partner
jenniek
Posts: 1,385
Registered: ‎28-06-2007
New Zealand

Re: Undeposited Funds

 You should be able to do a transfer Funds  (from the Accounts screen) from the undeposited funds account to the correct account without the need to change the transaction.

Regards,
Jennie Kingma
JK Business Systems Ltd, Hamilton, NZ
Email: jennie@jkbusiness.co.nz
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Experienced User
Action
Posts: 73
Registered: ‎08-11-2010
New Zealand
0 Kudos

Re: Undeposited Funds

Thank you everyone for all your suggestions.  I did do the bank deposit thing a number of times, carefully checking the dates, accounts etc however it didn't work.

 

In the end I did end up "transferring funds".  Not the best way to do it but it got me to my end result.

 

Thanks again for your suggestions, very much appreciated.

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Trusted Partner
Colleen
Posts: 233
Registered: ‎20-04-2010
New Zealand

Re: Undeposited Funds

All well and good but don't forget that you may find that amount in a different account, or on a different date in the future.  In fact, I am currently reading your question about a bank rec problem and suspect that it may have something to do with this.  Search for this amount. 

Colleen King
MYOB CC | MYOB RMP | MYOB Employer Services Consultant | Christchurch
colleen@aboutbusiness.co.nz
Office: 03-359 4231 | Mobile: 027-431 8708 | www.aboutbusiness.co.nz

Increasing the time you spend making money, by reducing the time you spend on unproductive activities

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