Merchant fees not automatically reconciling
Hi there, We've just started receiving online payments minus the merchant fees as advised by MYOB but it doesnt seem to be automatically reconciling. The amounts obviously dont match and are out of ...
Forum Discussion
Hi Claire,
Yes, it seems we are doing the same thing. We’ve checked account ledgers but as of yesterday payments are still being unmatched.
im out of the office at the moment and im not sure if I’ve done this. But have attempted this? “
- make sure the option Automatically match bank transactions to MYOB bills and invoices, is selected (go to Banking > Bank rules
this was sent through by someone else
Hi Michael,
Yeah, we have that set correctly. I've gone through and checked that all of the recommended settings from the articles are in place.
I am hoping that someone from MYOB may think up another setting that is preventing this from working. Our transactions worked fine up until the fees were applied to invoices directly.
Claire
Hi Clare,
We too are having an issue with automatic matching of payments received. This has only started since the change in way online payments are processed. I assume our amounts don't match due to the merchant fees/transaction fee being taken out. Have you had any luck with a reply on here regarding a work around? We have emailed tech support 2 days ago and yet to hear back. Thank you, Matt
Hi Matt,
No useful response from MYOB yet, just referrals to an online article. I have another support discussion which has also led nowhere.
It would be interesting to know if our problems are exactly the same- are your invoices still open even though the customer has paid? We have none of the automatic transactions being completed. So we are needing to manually record the payment and merchant fee transactions so that the bank feed will match up.
Claire
Hi Claire,
We have had a read through other articles and haven't found a solution yet.
When clients pay their invoice, all funds end up in our undeposited funds account even though we have it set to put the funds in our cheque account. MYOB marks the invoice as paid but then we need to manually assign the payment amount to the invoice. When we manually assign the payment, the amounts don't line up and we are certain this is due to the new way they are processing the fees for online payments. We can see the online payment processing amounts charged and they are broken into 3 categories. Payer surcharge, transaction fee and merchant fee. These also end up in our undeposited funds account and need to be manually assigned to our cheque account. When we do this, the amounts disappear. We believe this is due to MYOB marking these as an expense for us , which it isn't as our clients pay for this.
Maybe I can move the online payments fees paid by the client to an income account and test if the payment amounts received then match? Atleast this way we can prove that this is the cause of the amounts not matching.
Sorry for the long answer,
Matt
The same with us
as it says, “it should be automatically done” it’s not appearing that way
thanks again Claire
