Hi folks, we have a customer online invoice that was paid on 28/3/24 . The invoice was automatically closed off by MYOB with a 'received money' showing it was paid. The full amount was then added to Undeposited Funds Account but no transfer has been made for this amount to our bank account. We checked through our online banking portal and in bank feeds but it still hasn't been transferred from MYOB.. can anyone help?
Hi MelbChauffeur,
Thanks for your post.
Regarding the transactions or payment under undeposited account, you can do a journal entry to transfer the money from the undeposited to the correct bank account. More information about this can be found in the Help Article: Transferring money between accounts.
Feel free to post again anytime if you require further assistance.
If my response has answered your inquiry, please click "Accept as Solution" to assist other users in finding this information.
Best regards,
Doreen
Thank you for your reply Doreen. Creating a 'transfer money' journal entry is the easy part. The problem
is that the funds from the invoice payment have not been deposited to our bank account by MYOB. A transfer from undeposited funds account to the bank account will result in the bank account being higher than the expected amount because these funds haven't been deposited in the actual bank account..
Hi MelbChauffeur,
Thank you for updating us.
To correct the situation, you may need to delete the receive money transaction first through 'Find Transactions'. Once deleted, please check the bank feed transaction again to see if the payment is showing there already. If so, then you can match the invoice to the bank feed transaction.
Please feel free to reach out if you require further assistance.
If my response has answered your inquiry, please click "Accept as Solution" to assist other users in finding this information.
Best regards,
Doreen
