Bank account not available to select for electronic payment

[HelloLedger]

I've previously been making electronic payments from MYOB and creating an ABA file to upload to the business bank account to make multiple employee wage payments. After processing the most recent payrun, when going into the prepare electronic payments screen, normally I can see the bank account 1-6800 that matches the number from the account list in the Pay from Account field however this time, this number doesn't show and other accounts are now displaying. I went back to check the linked account settings however these show the correct bank account of 1-6800. How do I get MYOB to recognise and display the correct account number of 1-6800 to make electronic payments?

[Tracey_H · Accepted solution]

Hi @HelloLedger 

Thanks for your post. In Setup>>Linked accounts the Bank account for electronic payments needs to be the electronic clearing account. As you've got the 1-6800 Cash at bank account selected as the linked account it won't appear for selection in Prepare electronic payments>>Pay from account.

How electronic payments work is:

1. The net amount of the pay transaction is posted to the electronic clearing account as a credit:

2. The Prepare electronic payments transaction debits the electronic clearing account and credits the bank account selected in the Pay from account field. This clears the amount from the electronic clearing account and the payment appears as a withdrawal in the bank account.

The way your accounts are set up in those screenshots the pay transactions have been posted to the 1-6800 Cash at bank account, which is why it's not available for selection in the Pay from account field. 

If you need further help with this can you confirm those pay runs have been posted to the 1-6800 account.

If my response has answered your enquiry please click "Accept as Solution" to assist other users find this information.