Forum Discussion

Lynton123's avatar
2 months ago

Bank Deposits

Hi I have just transferred from Myob Accountright to Myob Business Lite and I am having issues with the following


1 With Accountright when I needed to either deposit  cash or cheques I would create an entry Receive Money and select Undeposited Funds (1-1160) as account and all relevant details and click save.


This would transfer funds to Undeposited Funds (1-1160) temporarily and I would then create a Bank Deposit which I would select all the transactions that needed to be deposited and it would transfer funds in one amount (and transaction ) from Undeposited funds to Cheque account.


I understand Business Lite doesn't have this feature and I need to select Transfer Money but when I select Undeposited Funds (1-1160) there is no money there.

 

What am I doing wrong?

1 Reply

  • Good morning Lynton
    MYOB Business is a bit easy and does not require the undeposited group.
    Recommend to create each cash and cheque deposits and once the bank feed of the total deposit arrives select match transaction and tick each of the cash and cheque deposits.
    Thanks Chris