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Windpwr's avatar
Windpwr
User
5 years ago
Solved

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 option which is cash at bank.  I then get an error message saying that I can not have the same accounts for Electronic Payments and Undeposited Funds.  Electronic Funds only as one option also which is Cash at bank.  Can someone make a suggest?  I am new to all this. Thanks

  • 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. 

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  • Komal_S's avatar
    Komal_S
    MYOB Moderator
    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
      User
      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.