Hi All
Thanks for your post.
This occurs because of the way data is transmitted through the integration, resulting in the payment being added as a negative line on the sale. To resolve this, you can either run the reporting on an accrual basis or delete the negative payment line on the transaction. Alternatively, you can manually enter the payment using the "take payment" feature.
Feel free to post again anytime if you require further assistance.
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Best regards,
Doreen
Certainly not solved, and certainly nothing about this limitation is displayed on all the MYOB pages promoting this integration.
If you did just live with it and use accrual then basically you accept you MYOB accounts are incorrect for ALL cash reports (not just GST).
I've reverted to
- Bank feed rule that allocates to a Square Balance asset account (type is a bank account). This picks up the daily square transfer.
- Querying Square and manually entering a "Receive Money" transaction that itemises income at the end of the month (could be done more often as per when you need reporting) with the bank account as Square Balance. You can also add a negative item into an expense account for the Square Fees.
- If you don't have any pending transfers at the end of the month the Square Balance should be $0 and you can check this in the bank reconciliation.
Of course this just adds a whole lot of manual work that the integration is supposed to eliminate.
I find it staggering that MYOB doesn't properly integrate with a payment system like Square. Someone should really look at this properly, the excuses are silly, it can almost be certainly fixed or simply don't promote the integration or state clearly that it will break cash reporting.
Hi, SimonL1
We understand your frustration about Square sales missing from GST Cash Reports and the extra work it causes. We acknowledge limitations in the MYOB-Square integration and are actively working on improvements.
We've identified issues like incorrect deposit dates and are diligently working to fix them. We appreciate your patience as we work towards a solution that meets your needs. Your feedback is valuable and helps us improve!
Best regards,
Doreen
Agree - absolutely not solved and a bit of an accounting fail for the cash reports to not generate anything if theres a $0.00 balance invoice or purchase that contains valid transaction lines.
I agree. Not having the functionality for MYOB to properly record the Square transactions so that the GST is recorded correctly on a cash basis creates a lot more work and removes any advantage of using the integration. I will be cancelling my subscription and reverting to processing these invoices manually.
