Hi, I have just started to use bank feeds. Seems to work ok but I have a couple of questions. * There is no option to select from my list of existing recurring transactions, it looks like I have to set them up all over again. Is that correct? * Why is there no option to match transactions with outstanding invoices (that are paid with a/p)? That option does exist in Xero (which I use for another business).

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Bank feeds in AccountRight

Margriet

Hi, I have just started to use bank feeds. Seems to work ok but I have a couple of questions.

There is no option to select from my list of existing recurring transactions, it looks like I have to set them up all over again. Is that correct?
Why is there no option to match transactions with outstanding invoices (that are paid with a/p)? That option does exist in Xero (which I use for another business).

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Bank feeds

Accepted answers

Shella_A

Hi @Margriet,

Bank feeds in MYOB only import transactions from the date your registration begins. Any credit card transactions that happened before bank feeds were activated can't be automatically recovered or imported. If you can't convert earlier statements into a supported format like QIF or OFX, you'll need to manually enter those previous transactions to bring your account up to date. You can check this link about bank reconciliation for the guide.

Cheers,
Shella

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Margriet

Hi @Sheila_A,

Thank you, that is sorted. Can you please also let me know how to bring my credit card account up to date, as I have no facility to convert statements from before bank feed started from PDF to QIF or OFX format. Do I have to enter transactions one by one?

Regards,

Margriet

Shella_A

Hi @Margriet,

If your recurring transaction isn't showing in the list, you'll need to create a new recurring transaction for it in AccountRight. Check this handy link on how recurring transactions works in MYOB. As for matching transactions with outstanding invoices paid via accounts payable, it can get a bit tricky in AccountRight compared to Xero. If you're having trouble with that, give our Live Chat team a buzz via our virtual assistant, MOCA or by submitting a support case via MyAccount so they can dive into your setup with you and help sort it out.

Cheers,

Shella