Partner Zone

Share your ideas for improving the new AccountRight. Vote on ideas and discuss them with the MYOB product development team.

Product Ideas

Bank Feeds: Ability to select Use Recurring

Partner

3Posts

101Kudos

0Solutions

3 Posts
Partner
Australia

I think the Bank Feed feature is great but it has a big problem. When you go Find & Spend Money you can not select a RECURRING TRANSACTION. Therefore, you have to go out of Bank Feeds & Into Banking & Spend Money & process the transaction as we used to do it.

 

That means you still need to PRINT off your bank statements for data entry. I thought the idea of Bank Feeds is that you could do away with paper bank statements & process Recurring Transactions on the Bank Feed screen.

 

We are really not saving that much time with the Bank Feeds screen it would greatly improve productivity & stress if we could select Recurring Transactions in the Spend Money feature in Bank Feeds?

 

Furthermore it would mean no more paper bank statements?

 

Your feedback & votes would be appreciated as I am sure this affects all MYOB Users.

 

"Bank Feeds & Recurring Transactions"

Current Status: Open
Last Changed: December 2013

We can see this is a very popular idea and would be interested to see who else would find this idea useful. Please bear in mind that rules in bank feeds do already provide similar (though not exactly the same functionality). You can setup rules by clicking manage rules in the bank feeds screen. This allows the automatic creation of spend or receive money transactions based on pre-set criteria. However, based on comments on the thread linked below we understand that this won't suit all users as using rules doesn't give you an opportunity to adjust allocations. http://community.myob.com/t5/AccountRight-Idea-Exchange/Bank-Feeds-Recurring-Transactions-Not-Active/idi-p/213479 We would very much like to hear your thoughts on the existing rules feature in relation to this suggestion.

59 Comments
Tallie_M
4,461 Posts
Former Staff

Hi there @garypilatti and @Lisa_K,

 

Thanks so much for your feedback.

 

We do agree that having the ability to use a saved recurring transaction to record an amount appearing in the Bank Feeds window is one that would be excellent to see implemented into the software, and clearly one that a lot of clients are eager for.

 

Given the popularity of this idea, and the fact that ideas are prioritized based on popularity, we do hope for the product development team to incorporate this into a near future release of the product soon.

 

Anyone else who would like to see this feature, please cast your vote by clicking the '+ VOTE' option next to the subject heading.

 

Kind Regards,

Tallie

David_Cree
Ultimate Partner
1,158 Posts
Ultimate Partner

Hello there,

While you cannot link a bank feed to a Recurring Transaction you can set up a rule to do much the same. For example I have a client who reimburses an employee for their expenses including fuel purchases. They always call the payment PETROL STATION.

 

You can set up a rule for the anticipated account that the charges are to be allocated to if you know regular split or if if they vary.

To do this when setting up a rule select the Show Advanced Options. Then setup for the accounts. As the amount varies each time you will need to setup zero amounts with the last account showing remainder.

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You will then approve the transaction, and then click on the little blue arrow to open it so that you can allocate the transaction to the correct accounts.

Capture0a.jpg

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I hope this helps.

Cheers

David

Dug
7 Posts
Cover User

I tranfer funds between accounts. Using Bank feeds a 'spend money'  rule has been created. A transfer rule would be much better, or access to my recurring transactions (where I have transfer rules).

I have just discovered all of these transfers (which show up as 'spend money' and 'receive money' in the bank feed rules) show up on my BAS statement as non taxed purchases and sales. I hope it doesnt trigger an audit.

I have now stopped using these 'rules' as they just confuse the issue.

Regards

Dugald

Steven_M
MYOB Moderator
44,684 Posts
MYOB Moderator

Hi @Dug


Thank you for your feedback and voting for this idea. I have shared your feedback with the team.

CML1
3 Posts
Cover User

Wow - didn't know this was suggested/requested 2 YEARS ago!!   When will MYOB be looking to add the use recurring feature in Bank Feeds?  It is highly frustratiing and time consuming having to contuinually go back to Spend Money to use recurring transactions!

Steven_M
MYOB Moderator
44,684 Posts
MYOB Moderator

Hi @CML1


Thank you for feedback in regards to this idea.

Currently this idea has been marked as Under Consideration as something that we are considering investigating further into the adding that to the program. At this stage we don't have a time frame for when this idea will be marked as implemented or in development. However we are still encouraging members of the MYOB Community to vote and comment if required for this idea. 

magsamillion
4 Posts
Cover User

Count me in... please set up recurring transactions to be used when creating a new entry on bank feeds.

Ali2478
2 Posts
Cover User

I think the Bank Feed feature needs to add the ability to use the Recurring Transaction. It is time wasting to have to go out of Bank Feed enter a Recurring Transaction then return to Bank Feed. I know you can make a rule but sometimes the rule does work as it changes every entry. Is there any talk about adding the Recurring Transaction so it's not greyed out.

Steven_M
MYOB Moderator
44,684 Posts
MYOB Moderator

Hi @Ali2478


Thank you for your feedback in regards to AccountRight

I've merged your idea with this one already included on the AccountRight Idea Exchange.

Hoddo464
1 Post
Cover User

If I want to use Bank Feeds to enter transactions (Bank Feeds/New/Spend Money) that are not matched by a transactions in MYOB or a Bank Feeds Rule it seems I cannot access my extensive Recurring Transactions list. The tab is there but it is not accessable!

 

To access my Recurring Transactions list, which I know has correct tax and account codes, I must use the Spend Money tab. Using the Spend Money tab I cannot access the information in the Bank Fees transaction and the information must be re-entered.

 

When will we see the gap in these 2 fields closed? 80% of the transactions in my bank feeds credit card account cannot be covered by a banking rule. Are there any tips creating rules that will make matching rules to transactions easier? Are there any plans to bridge this gap?