Bank Feeds and Credit Cards

[Painting44]

I recently set up a bank feed for our credit cards, the credits in the bank show as two seperate cards (one for each card holder) but the actual credit card account and bank feed is only one account which shows purchases for both card holders. 

In MYOB there are currently two credit card accounts, one for each card holder. In order for the bank feed to work correctly the accountant suggested creating a new account for both credit cards, however I feel combining the two in MYOB would work better. Are there any issues with combing two credit card accounts like this in MYOB?

Thanks.

[Matyas_K · Accepted solution]

Hello @Painting44

First and foremost I'd like to extend to you a warm welcome to the Community Forum. I hope you find it a valuable resource.

I've had your topic moved over to the correct forum for AccountRight.  If you have been recording the two cards transactions independently from one another between two different accounts you are correct in thinking that combining those accounts would be the better option.  However, one of the limitations of combining accounts is that if they are associated with a bank feed they cannot be combined.  If you've already associated one of the credit card accounts to a bank feed you will need to undo any approved matches before removing or changing the association via Banking > Bank Feeds > Manage Bank Feeds.  Once this has been done you should be able to combine the accounts provided they haven't been linked anywhere else.

As it is just the one credit card account/BankFeed feeding through into AccountRight you will either need to combine the accounts or create a new account for BankFeeds to work properly.  Combining them will save you having to re-enter those transactions as you would have to if you create a new account for them to feed into.  Before combining the accounts it is recommended that you create a backup of your data file.

I hope this helps you out and please do not hesitate to post again at any time if you have further queries.

Kind Regards,

Matyas
MYOB Client Support