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Accountright 2016.3 update causing banking errors

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Sammylee123
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Accountright 2016.3 update causing banking errors

Hi, I'm not sure what's going on but ever since I updated MYOB Accountright to the 2016.3 version my "bank" account is always higher than it should be. I have noticed that sales journals are now showing in my bank account which is why it is higher. I tested it by creating a fake sale and leaving it unpaid. I then checked my bank account and it was in there - increasing my bank account by the amount of that invoice. I am also struggling with bank feeds as it is giving me options to match transactions with ones that have already been matched and under "your transactions" it is displaying invoices in addition to cash receipts and disbursments?? any help would be greatly appreciated. Thanks.

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Steven_M
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Re: Accountright 2016.3 update causing banking errors

Hi @Sammylee123

 

Welcome to the MYOB Community Forum, I hope you find it a wealth of knowledge


When you record an invoice AccountRight will place the amount against a series of accounts. For example if you do an invoice for $100 there will be $100 to your income account and $100 will go into your Trade Debtors/Accounts Receivables account. The income account is the one you select on screen/or comes from the item, whereas the Trade Debtors account is taken from Setup>>Linked Accounts>>Sale Accounts - Asset Account for Tracking Receivables.

 

What it sounds like is that you have set the Asset Account for Tracking Receivables to be the main bank account*, so when you do an invoice you have a value going to the income account and the same value going to the bank account even though its not been paid. I would be going to Setup>>Linked Accounts>>Sales and checking the Asset Account for Tracking Receivables, ideally that should be set to be a Trade Debtors/Accounts Receivable account not a bank account.

By changing that Asset Account for Tracking Receivables to the appropriate account it will correct things going forward i.e. any new invoices created. Older invoices would need to be deleted (open the invoice - Edit>>Delete) and then reentered.


*This is set by the user and its not something that I have heard been changed during an upgrade.

 

Do let us know how you get on and if you require further assistance.

Kind regards,
Steven

MYOB Community Support

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Sammylee123
2 Posts
Cover User
Australia
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Re: Accountright 2016.3 update causing banking errors

Hi Steven,

 

This has solved my problem. Not sure how those linked accounts were changed but it's all good now. Thank you so much Smiley Happy 

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