Accountright live and Bank feed

This thread is now closed to new comments.
Some of the links and information provided in this thread may no longer be available or relevant.
If you have a question please start a new post.
Contributing User
15 Posts
Contributing User
Contributing User




Solved: Go to Solution

Accountright live and Bank feed

Hi, we've recently got our MYOB connected online and I've couple of questions.


1. Do I need to hit that sync company file or what I do auto saves on the server/cloude.

2. Still neccesery for me to do frequent backup, correct?


Bank reconcilliations:

What we are doing at the moment is that I ask our director weekly for that bank statement spreadsheet he extract from netbank then sent to me, then I do bank recon.


What does bank feed do?

Is it just a display of the bank records? would I require to login to netbank? (Except when setup)

I would rather not have bank access, but still prefer to see the transaction activities, if my action here is only to see, not to change anything, then it would be perfect.


Thanks in advance for any help.

MYOB Moderator
811 Posts
MYOB Moderator
MYOB Moderator




Accepted Solution Solved

Re: Accountright live and Bank feed

Hi @carnivaly


Thank you very much for posting on the MYOB Community Forum. I hope you find it a wealth of knowledge. 


1. Syncing

When you synchronise your company file for the first time, it will download a complete copy of your company file to a folder in your appdata\local\MYOB\AccountRight\2018.2\Offline directory. When you have automatic sync turned on, about every 20 minutes MYOB will sync changes made to the online copy of your file with this offline copy ensuring it stays up to date. The sync file is used when you check out your company file - basically MYOB will work off this local copy of your file instead of online. When you check in again, MYOB will sync the online copy of your file with this local copy thus ensuring the changes you made while checked out will be reflected online. What you do whilst working on line will be automatically saved to the online copy, and synced every 20 minutes or so with the sync file (if auto sync is turned on).


2. Backups

We keep periodic backups (about every 7-10 days) on our servers, however it is a paid service for us to retrieve this (currently 49.95 per backup). We strongly recommend you keep backups of your file as often as you need (no longer than every week though) simply so you have a copy there when you need it and you don't have to pay us to retrieve one for you.


3. Bank Feeds

Bank feeds will feed a copy of your bank transactions straight into your file. From here you can match these transactions to existing transactions in AccountRight, or you can create new transactions if you need to (or setup rules to look for repeating/frequent transactions which you can create/match automatically). Once a match is approved it will set the transaction to be reconciled in your reconciliation window, at which time you can reconcile your accounts quite simply. You cannot change anything in your real life bank account from bank feeds, it simply mirrors what's already there. For more on bank feeds please see our help note on How bank feeds can work for you and how to setup bank feeds.


Hope this helps. If you need any further information at all, please don't hesitate to ask.

Kind Regards,

Stuart W
MYOB Client Support

Didn't find your answer here?

Try using advanced search to find a post more easily Advanced Search
Get the conversation started and make a new post Start a Post