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AccountRight

Bank Feeds: Ability to match one bank transaction to multiple myob transactions

Experienced Partner

121Posts

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121 Posts
Experienced Partner
Australia

I'm sure this would have been suggested before And I can't find it.

Two+eftpos payments received in one day.

Unable to match two to one?

Am I missing something?

If so please enlighten me.

 

Thanks

Current Status: Open
Last Changed: September 2013

Thanks for the feedback on the Bank Feeds, Geoff. It would be great to get some feedback on this suggestion with votes and comments from other users too.

79 Comments
Partner Cassandra_Burr
3 Posts
Partner

I am surprised that this thread dates back to September 2013 and nothing has been done about it.  surely it can't be that hard to split the payment over two bank feed transactions.


I have a client using EFT - everything that comes through goes in as a lump sum sale at the end of the day.  However we have just linked up bank feeds, and the AMEX transactions are split out.  So instead of saving time, it's actually going to create more work as my client will need to enter the transaction over two entries.

 

Keen to see this resolved.

Ultimate Partner Kym__Yeoward
1,642 Posts
Ultimate Partner

Hi - one of my retail store clients uses AccountRight Plus and Retail Manager.

 

At the end of each day in  Retail Manager, a "Cash Up" procedure is done, which results in  a general journal posted into AccountRight Plus, with a summary of the day's sales and the amount to be banked.

 

However my client might only have time to visit the bank once or twice per week, to deposit the cash takings.

 

So Thursday's Bank Feed Deposit might cover 3 RM summary receipts from Monday, Tuesday and Wednesday.

 

>> Could there be an option in Bank Feeds, to match a deposit to multiple cash receipt entries, including journals from Retail Manager ?

 

>> Also, could there be a short video in teh Support Notes, to explain the difference between matching Bank Feeds and doing a Bank Reconciliation. Particularly to explain why the Reconciliation is essential and show that Bank Feeds assist, but don't replace, the bank reconciliation process.

 

Kym Yeoward CPA

Darwin

 

P.S. for my client, we've had to manually reconcile these types of transactions, in the Bank Reconciliation screen.

This has left them "unallocated" in the Bank Feeds screen - so my client will have to right-click these lines and mark them as "Hidden", to clear them from the Current screen.

Experienced Cover User turman2001
24 Posts
Experienced Cover User

I find Bank feeds to be good but only does half the job.

 

Bank feeds needs the ability to pick multple entries in undespoited funds. 

 

This would be usefull for anyone who uses a eftpos machine. As we get a daily settlement with multple transactions in undeposited funds.

 

second part would be to actually record multple payments against 1 feed, this would be usefull when accepting direct debit from customers 

Experienced Cover User ntoumba
61 Posts
Experienced Cover User

I would like to know if this is still under considerations or if its been forgotten about?

This thread has been around since 2013? Is it still only under consideration ?

 

Please please please add

metrogroup
7 Posts
Cover User

I am quite surprised too that this request has been around since 2013 and nothing has been done for it. Our business uses three different categories and when one transaction needs to be split into two categories I can no longer match the transaction in bank feeds.

Dazl
1 Post
Cover User

We use MYOB and bank feeds. We receive weekly payments from customers by direct debit. The direct debit information appears on our bank statement as a single entry but it consists of a very large number of transactions from different customers. Therefore the individual receipts from each customer do not get picked up through the bank feeds so cannot currently be set up to record to customer accounts automatically. It would be too laborious to enter each direct debit individually and would also result in too many individual transactions on our bank statement so we don't really want to change the way they are processed. Currently the bank feed automatically allocates the total to undeposited funds and then there is the very laborious task of recording each individual receipt through undeposited funds. Surely there must be a way of uploading information from the bank so that the allocation to customers can be automated somehow? I have asked both the bank and MYOB but to no avail and as the volume increases I am getting more desperate.

Experienced Cover User SimonM1981
43 Posts
Experienced Cover User

I would like to see the option of being able to allocate 2 or more transactions in Bank Feeds.  Same would apply for Deposits or Spend Money.  

For instance in Spend Money, I pay our credit card off monthly with a cheque and some of that will include 4 or 5 "bills".  I make a "bill" payment for each bill and allocate it to the same cheque number for all of them, but then the bank feeds will only allow me to match it to one of those.  Is there a way around this to have 1 bank feed transaction allocated to more than one transaction in MYOB?

In sales, it would also be useful as we do all Eftpos transaction straight into our acccount....I know a way around this one would be to put into Undeposited funds then do a banking on Eftpos sales each day....but it would still be a good option to.

 

Any other thoughts on this?

Thanks

Simon

Ultimate Partner PaulBihet
706 Posts
Ultimate Partner

The issue with allocation of spend money from cheque account to pay bill from a credit card transaction is just that. Technically the bill has been paid already. The goods are yours from the time you swipe the card or transmit the information. You now owe Visa or MasterCard. I would be using the credit card as a separate account and using spend or transfer money from the cheque account to pay off this account   Bank feeds will then match as they should 

Auscan
4 Posts
Cover User

100% need to be able to match multiple invoices to one payment....almost all of our customers pay for their branch purchases in one head office remittance...it makes a complete mess of everything / wastes a lot of time having to follow current inept procedures.