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Bank transactions with mixed debit / credit postings

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Bank transactions with mixed debit / credit postings

When you receive a deposit to your bank account with a mix of income and expenses and they send you the net amount.  If you post as one transaction the expense posts to the GST reports as a minus in the income and GST collected columns thus throwing out the GST figures for the BAS.


It would be great if instead of having to do a receive money and spend money  (two postings for one bank transaction) which then doesn't match the transaction in the bank feeds you could do it in the one transaction and it would feed accurately into the GST reports.


Is it possible if this could be adressed in a future software update?




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MYOB Moderator
MYOB Moderator




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Re: Bank transactions with mixed debit / credit postings

Hi @SusanMcC 


Incomes and expenses do need to be recorded separately for them to be recognised and reported correctly. Generally speaking, when receiving a deposit of the net amount you can use the Undeposited Account in AccountRight to record it, or create a new holding account if it suits your set up better.


When recording invoice payments or Receive Money transactions in AccountRight, there's the option to tick 'Undeposited Funds', it will automatically change the 'Deposit to Account' to the linked bank account. You can then also select the same bank account to pay bills or Spend Money transactions. Once done, go to Banking > Prepare Bank Deposit, tick the positive and negative amounts then deposit the balance to your main bank account. The deposit transaction can be matched to your bank feeds deposit. 


I hope this helps.


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