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Product Ideas

Bank Feeds: Automatically apply to oldest payment first (if rule picks up exact amount)

Experienced Partner

12Posts

4Kudos

0Solutions

12 Posts
Experienced Partner
Australia

I have just found that in bank feeds if a customer has several outstanding accounts and they pay an exact amount of a more recent account, the invoice rule will pay off that account BEFORE the oldest first.  This is terrible as it has not really upset one of my clients receivables!  I have spoken to myob and they trialed it and found the same thing.  The gentleman suggested I post it here.

 

Can there be a check box or something where the applying to oldest invoice first rule works for the bank feed section to?

 

Thanks

 

"Bank Feed posting"

 

Jen

Current Status: Open
Last Changed: January 2014

Hi Jen, thanks for the feedback, this certainly is the best place to post changes that you'd like to see added into the program. This sort of change is something we're happy to look into so that Bank Feeds are as user friendly as possible, it would be great to see what the rest of the community thinks of this being added.

4 Comments
Matthew_W
MYOB Staff
2,173 Posts
MYOB Staff
Hi Jen, thanks for the feedback, this certainly is the best place to post changes that you'd like to see added into the program. This sort of change is something we're happy to look into so that Bank Feeds are as user friendly as possible, it would be great to see what the rest of the community thinks of this being added.
GDK
Super Partner
680 Posts
Super Partner

Hi @JenP and @Matthew_W 

 

In Purchases Preferences, there is an existing checkbox ""Apply supplier payments automatically to oldest bill first". MYOB development team need to make sure that the settings is applied in bank feeds. This settings is already used in Pay Bills and Pay bill options.

ELVS
Contributing Cover User
24 Posts
Contributing Cover User

It would also be useful if a single bank feed transaction (eg customer payment) could be matched to several MYOB entries.

Here is my example: we supply a company that has several branches (>15), we have set up each branch as a separate customer (so we can issue invoices, statements etc per branch), but the head office pays the monthly statements together as one lump sum. I don't use an undeposited funds account as the funds are depositied from the customer directly to our bank account.

My work around is to hide the transaction on the bank feeds screen and manual reconcile the transactions in the reconcile accounts screen.

It seems such a shame to have the great bank feeds function but then have to do it manually.

Steven_M
45,180 Posts
Former Staff

Hi @ELVS 
Thanks for the feedback I would recommend voting for Bank feed - Ability to match one bank transaction to multiple myob transactions which is for the idea that you have described above.