Electronic payments not going thorough
Good Morning everyone, For the last couple of months we have been using electronic payments. First two months no problems but now we are finding some electronic payments that are set up and say have...
Forum Discussion
HI JessFenix,
Thank you for your post and welcome to the Community Forum.
Regarding your concern, the unprocessed electronic payment report displays all transactions that have been posted to the electronic clearing account but have not been processed. These transaction will appear in the Prepare Electronic Payments window. When a supplier payment or payroll transaction is Electronic the payment amount is posted to the electronic clearing account. CTRL+R on your keyboard recaps the transaction so you can see the journal posted.
And when you process the Prepare Electronic payment transaction the amount is moved from electronic clearing account to the bank account.
You then reconcile electronic payment transaction by matching it to the bank feed or manually in the Reconcile window. The electronic clearing account should reconcile back to zero. You can do this in the Reconcile accounts. window.
Here is the Help Article: Set up electronic clearing account, which has detailed information that you can use as a guide or reference.
Please feel free to post again if you need further assistance with this. We are happy to assist.
Thanks,
Cel
Thankyou for your reply. We do all of this and have an electronic clearing account. The payments are processed and go from prepare electronic payments and are set up to be paid, MYOB says they are paid but then the suppliers dont receieve the money.
On our end it looks like they have been paid but th emoney doesnt actually leave our account
Hi JessFenix,
Thank you for getting back to us and providing an update.
In this matter, if the status of the payment in MYOB is already paid and the payment still sits in your account, we do recommend double check on your bank. We also recommend checking if the electronic payment was linked to the right account. Note that the process of clearing account is depends on the bank, but it is usually 3 business days.
Again, if you need further assistance with this, please feel free to post again. We are more than happy to help.
Kind Regards,
Cel
