Electronic Payment Linked Account Error

Question

Hi all,

I am attempting to download the ABA file for a payrun, however I continue to get the error message:

"The linked account for Electronic Payments can't be used for Electronic Payments:.

I have checked the linked account, and it is saved as the bank account that wages are paid from.

Any help is appreciated, as it's painful having to pay manually from the bank each time.

Thanks.

Doreen_P · Accepted Answer

Hi @LKey,

Thanks for your post, and welcome to the MYOB Community Forum.

It sounds like the wrong account has been selected for Bank account for electronic payments. To check this go to Accounting > Manage linked accounts > Accounts & Banking > Bank account for electronic payments. The account selected should be a clearing type account, typically, this is the electronic clearing account.

In the Account field you're selecting the Electronic clearing account, this needs to be the bank account that the funds are being withdrawn from.

When a pay transaction is Electronic the electronic clearing account is credited the net amount of the pay. When the Prepare electronic payment transaction is processed, the electronic clearing account is debited and the bank account selected in the Account field is credited. This clears the electronic clearing account and the net amount appears as a withdrawal in the bank account.

Feel free to post again anytime if you require further assistance. 
 
If my response has answered your inquiry, please click "Accept as Solution" to assist other users in finding this information.

Best regards,

Doreen