When is MYOB going to have the imported bank statement balance available through the bank reconciliation, like Xero does?? This would eliminate the need to ask clients for their bank statements each quarter to reconcile bank accounts - which can be very difficult and time consuming when trying to get BAS' done by the deadline.
2 Comments
- Status changed:NewtoOpen
Hey Nicolep93
Thanks for your idea! I'll be sharing this with our product team and have updated the status to open so other members of the community can vote and add weight to this idea.
I use both and have had a couple of situations in Xero where the bank account says it's reconciled but when I check the statement, it isn't - credit cards only so far. I will always check a balance against a statement to ensure the reconciliation is correct, even if it's just the closing balance for the year, quarter or month.
I also find the Bank Reconciliation function in MYOB allows me to reconcile any account such as the Superannuation Liability account to ensure correct coding for these. In Xero, I have to Export non-bankfeed accounts and Reconcile in an Excel spreadsheet which is more time consuming than the MYOB Bank Reconciliation function.
I love the Undo Reconciliation function when something is out of whack and needs reworking but I do find the MYOB web browser versions of the Bank Reconciliation is often inaccurate and transactions can disappear and reappear which makes reconciling a pain. The Desktop version is much better but very expensive so pro's and con's.
