Bank Feeds

[MBlack1]

I have started using bank feeds to reconcile, however I have noticed that some transactions are not coming through.  This happens most days.  I go through the "Get Bank Transactions" and it still does not import every transaction.  What else can I do to get the feed working correctly? 

I have also noticed that it will not pick up my transactions that I know have been entered in MYOB and the find button does not pick it up either with extended searching parametres.  Reconciling the old way, there is no problems, transactions are there.

To me, it seems like the feed is not working correctly at all and past team have also had the same problem and stopped using it due to this.

[Steven_M]

Hi @MBlack1 

Typically, if a transaction has been recorded at your Bank this should flow through to your AccountRight company file, provided the bank feeds have been set up for that account. If you are expecting a transaction to flow through and it hasn't I would recommend checking your Bank Statement/Internet Banking to see if the transaction is listed. If that transaction is not listed, it is recommended that you speak to your Bank.

Should the transaction be listed and it hasn't flown through, we would be happy to investigate on your behalf. To arrange for that we would need the following screenshots:

• Your Internet banking/bank statement that shows those missing transactions
• Your AccountRight>>Bank Feeds with the Display Transactions to be Current (top right), one with it set to be Approved for a suitable date range and another with Hidden. 
• The last four digits of the bank account

Having this information will let us give more of an impact on the situation and whether a ticket is required to be lodged with our team to arrange for those transactions to come through.

In terms of matching of transactions, check out my post here for information on what will make a transaction appear for matching and a guide to ensure it does appear if you are not able to find it.

[MBlack1]

Hi Steven,

Where do I email the screen shots to. I am unable to reply to the email, and there is no email provided?  I would rather not put screenshots on teh Forum as it contains sensitive information.

[Steven_M]

Hi @MBlack1 

You are welcome to send those screenshots through to me using the private message functionality on this Forum. 

More information into that functionality can be found on Forum Help: Private messages 

Note: If you are sending that information through private messages you would need to upload those screenshots as images using the Photos option when composing the message.

[MBlack1]

Hi Steven,

I have actually worked out that it is the payments not appearing in the bank feeds under the "current" display transaction option.  It seems that they are being automatically being approved.  Would this be correct that it automatically approves some transactions, I have never come across this in the past?

I have noticed that we also never have a $0 out of balance amount even through we have completed monthly bank reconciliations the old way and they have always balanced.  What could be causing this?

[Steven_M]

Hi @MBlack1 

Fantastic! Great to hear that you have located those transactions. Thanks for letting us know.

With the introduction of AccountRight 2020.1, we added auto-matching for bank feed transactions. This is controlled by two banking preferences -- Setup>>Preferences>>Banking>Auto-approve bank transactions matched to MYOB transactions & Auto-allocate bank transactions to outstanding MYOB invoices or bills. Those preferences are pretty self-explanatory, if a match is found it auto-approves the transaction.

If you are not wishing that auto-approval to happen you want to go into the Preferences and update those preferences to be disabled before selecting Ok. This will mean that you will be looking at approving those bank feed transactions - select the Approve button next to the match (or Approve All to approve all in the list).

[MBlack1]

Hi Steven,

Do you have any information as to why the Bank Feeds would never become a $0 out of balance even though all transactions have been approved?

[Steven_M · Accepted solution]

Hi @MBlack1 

The Out of Balance value on the Bank Feeds window is simply the difference between your Closing Balance and that of your Calculated Balance. Due to the fact that your transactions have auto-allocated this would have added to the Calculated Statement balance thus there would be no out of balance.