Forum Discussion

Baxter1's avatar
Baxter1
Contributing User
2 years ago

Prepare bank deposits in business lite

How do you prepare a bank deposit in MYOB business Lite ?

Apparently the feature doesn't exist!

  • Earl_HD's avatar
    Earl_HD
    MYOB Moderator
    2 years ago

    Hi Baxter1 

    Thank you so much for your post. Currently, this feature is not available in Myob Business/Essentials. If this is something you'd like to see in MYOB Business/Essentials in the future, we'd also strongly encourage you to vote for this idea on the MYOB Essentials Idea Exchange. As our product development team do use the board to gain insight into what our clients want to see implemented, it's a great way for you to get your voice heard. Voting can be done by clicking on the thumbs up icon.

    Regards,
    Earl

    • Baxter1's avatar
      Baxter1
      Contributing User
      2 years ago

      Hi Earl,

      That is so disappointing.

      Any solutions as to how to receive undeposited funds into our bank account?

      We are a small business & still receive both cash & cheques as payments for some invoices.

      MYOB seems to assume that everyone pays direct into the bank account!

      • Earl_HD's avatar
        Earl_HD
        MYOB Moderator
        2 years ago

        Hi MadMuddie,

        MYOB Essentials/Business doesn't have a Prepare Bank Deposit/undeposited feature. However, you can create a new bank account in MYOB Essentials/Business for easier transaction recording. This allows you to select the specific bank account from the list when you need to record a transaction in the undeposited funds account. To post an amount to the selected account, follow these steps:

         

        1. Navigate to Banking>>Receive Money.
        2. Process the transaction to the designated bank account from the holding account.

        Please do let me know how you go on this.
        Regards,
        Earl

         


         

  • MadMuddie's avatar
    MadMuddie
    2 years ago

     I have just noticed that this feature isnt available as well. How do you record when you deposit the cash into your bank account and record the cash recieved? Do you just do a transfer from undeposited funds to the bank account that you depostied into? This business will mostly be cash based not eftpos or direct deposits. Thanks.

    • Earl_HD's avatar
      Earl_HD
      MYOB Moderator
      2 years ago

      Hi Baxter1 and MadMuddie,

      Thanks for reaching out and my apologies for the late response. 

      Thanks for the detailed information. I would recommend visiting this help article that has detailed information about: About undeposited funds

      Feel free to post again, we're happy to help.
      Regards,
      Earl

      • MadMuddie's avatar
        MadMuddie
        2 years ago

        Hi Earl

        thanks but I'm asking for MYOB business lite not account right 

        cheers 

         

         

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