At the end of each day, the received eftpos payments are all combined by my bank and appear on the feed as one transaction. As the payments are already assigned to invoices from multiple customers, how do I clear them from my feed/apply them without adding another income.
Hi Flowtek15
Thanks for your post. In Bank transactions click on the expand arrow for the eftpos deposit>>click Match transaction and select the payment transactions included in that bulk deposit>>Save.
The Help Article, Working with bank transactions, has detailed information.
Please let me know if you need further help.
If my response has answered your enquiry please click "Accept as Solution" to assist other users find this information.
Hi Flowtek15
My apologies, as you posted on the MYOB Business board I provided information for that product. Checking the account linked to your Forum log in you're using AccountRight.
In AccountRight you will need to allocate payments to the Undeposited funds account and process Prepare Bank Deposit transactions. The following Help Articles have information on this process:
Matching a bank feed to multiple transactions
Please let me know if you need further help.
If my response has answered your enquiry please click "Accept as Solution" to assist other users find this information.
Hi Tracey_H , apologies for entering this in the wrong section.
However this method will not work as the Bank Feed transaction covers multiple customers, rather than trying to deal with multiple customer payments as the linked page suggests.
At the end of every day, the Eftpos payments appear as one lump amount in my bank feed. Although the relative invoices have already been marked as paid, I still need to clear the transaction from my bank feed, otherwise the feed will be full of these eftpos payments.
If there is not a way to split the lump sum and assign it to multiple customers/invoices, is there a way to delete them from my Bank Feed? As technically they are not necessary.
Hi Flowtek15
When you record the Receive payments transactions tick the Undeposited Funds option:
In Prepare Bank Deposit tick all the Payment transactions included in the EFTPOS lump sum deposit. The Total Deposit Amount should be the same as the EFTPOS deposit amount:
If you look in the Bank Register you will see the Prepare Bank Deposit transaction for the lump sum amount:
Match the Prepare Bank Deposit transaction to the bank feed transaction in the Bank feeds window.
Please let me know if you need further help.
If my response has answered your enquiry please click "Accept as Solution" to assist other users find this information.
Hi Tracey_H , Correct me if I'm wrong but won't this be adding a deposit? And therefore doubling the income of a sale?
Also when I select "Receive Payments", there is no check box for undeposited funds. I could setup a transaction rule so that all payments with the EFTPOS description are allocated to the undeposited funds account. However these funds have techncially already been deposited (when the customer paid via the eftpos machine), I just need to match the transactions or alternatively ignore/delete the deposit on the bank statement. Whichever clears it from the bank feed without creating issues.
As you can see below, I cannot select a customer for the transaction, as it covers multiple customers and multiple invoices. There is also no check box. And therefore I cannot receive the payment.
When there is only one Eftpos transaction for the day, MYOB is able to match the deposit on it's own to the correct, already paid, invoice. I'm just struggling to do this when the deposit covers more than one customer.
Sorry if I'm not explaining myself clearly.
Hi Flowtek15
You need to go to Sales>>Receive Payments to record the payment transactions, not select Receive payments from the Bank feeds window. You can then tick the Undeposited funds option, select the customer and record the payment.
When you record a sale transaction the journal posted credits the income account and debits the Trade debtors account. This is a sample sale transaction:
When you record the Receive payments transactions the Trade debtors account is credited and the account selected in the Deposit to Account field is debited. If you tick the Undeposited funds option this will be the Undeposited funds account:
When you record the Prepare bank deposit transaction the journal posted moves the amount from the Undeposited funds account to the Bank account.
The income account is only affected by the sale transaction.
The correct process for lump sum EFTPOS deposits is using Undeposited funds and Prepare Bank Deposit as explained previously. To recap that process:
Please let me know if you need further help.
If my response has answered your enquiry please click "Accept as Solution" to assist other users find this information.
