Forum Discussion

Windpwr's avatar
Windpwr
5 years ago

Undeposited Funds account

Hi, I have just upgraded to Account Right V19 and when trying to enter a sale I get prompted to link an Undeposited funds account.  When I follow the prompts to select an account, I only have one opt...
  • Komal_S's avatar
    Komal_S
    5 years ago

    Hi Windpwr 

     

    Ideally, you should be setting up different accounts for Undeposited Funds and Electronic Payments. If Cash at bank is already linked to Electronic Payments, it would be recommended to create another clearing bank account by going to Lists>>Accounts and assigning that to Undeposited funds.

     

    Additional information on undeposited funds can be found on About undeposited funds help article.

     

    Please let me know if you have additional questions on this. 

Komal_S's avatar
Komal_S
MYOB Staff
5 years ago

Hi Windpwr 

 

Ideally, you should be setting up different accounts for Undeposited Funds and Electronic Payments. If Cash at bank is already linked to Electronic Payments, it would be recommended to create another clearing bank account by going to Lists>>Accounts and assigning that to Undeposited funds.

 

Additional information on undeposited funds can be found on About undeposited funds help article.

 

Please let me know if you have additional questions on this. 

  • Windpwr's avatar
    Windpwr
    5 years ago

    Hi Komal_S 

     

    Thank you for the reply.  What you have suggested makes sense and is what I was assuming, but did not want to make changes that may be inccorect.

     

    I will create another clearing bank account.

Looking for something else?

Search the Community Forum for answers or find your topic and get the conversation started!

Community home

Dig into MYOB Academy for free courses, learning paths and live events to help build your business with MYOB.