Forum Discussion

Contributing User

9 days ago

Solved

Bank feeds

I have bank feeds activated on a file. When the feeds come in, i need to allocate, matching or transfer the transactions. Does that mean i do not need to manually process Spend Money/Receive Money?

By doing so, will i double up on bank transactions?

Genreve_S
9 days ago
Hi karmun,

Yes, allocating and transferring transactions do create new transactions, which means you won't need to create spend/receive money transactions. However, matching works a bit differently. Matching is simply looking for a transaction that's already recorded in the file and matching it with the bank feed transaction. So, in general, if you manage to match, allocate, or transfer the transactions from the bank feeds, you won't need to create any spend/receive money transactions.

Regards,
Genreve

Genreve_S
MYOB Moderator
9 days ago
Hi karmun,

Yes, allocating and transferring transactions do create new transactions, which means you won't need to create spend/receive money transactions. However, matching works a bit differently. Matching is simply looking for a transaction that's already recorded in the file and matching it with the bank feed transaction. So, in general, if you manage to match, allocate, or transfer the transactions from the bank feeds, you won't need to create any spend/receive money transactions.

Regards,
Genreve
- karmun
  Contributing User
  8 days ago
  thanks
karmun
Contributing User
8 days ago
My client on the other hand has manually create spend/receive money transactions, leaving heaps of unallocated transactions on the dashboard. What do I do to those unallocated transactions? Is there a way to get rid of them? Bank is now reconciled because transactions were manually created.
- Shella_A
  MYOB Moderator
  8 days ago
  Hi karmun,
  
  If you've already reconciled your transactions, deleting or hiding the unallocated transaction from the bank feeds is not possible. So, you might need to ignore or manually remove the bank transaction within a certain date range. Just heads up! We can only remove all transactions for a specific date range, not individual ones. If you’d like to do so, you may reach out to our live chat support through our virtual assistant MOCA or submit a case via MyAccount. They're equipped to assist further with the removal of unallocated bank feed transactions.
  
  Cheers,
  
  Shella