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AccountRight

Bank feeds: Create Journal Entry

Kelly81
Experienced Cover User

260Posts

88Kudos

1Solutions

225 Posts
Experienced Cover User
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New

I want the ability to be able to create a journal from the new button on the bank feeds screen.

 

Currently I have to go back to the command centre click, accounts then create journal and then go back into bank feeds and match and approve the transaction. A very backward way and time consuming method of doing it.

 

Here is part of the conversation.

 

http://community.myob.com/t5/Getting-started-with/Creating-journal-from-bank-feed/m-p/338177/highlig...

 

"Create Journal From Bank Feeds"

 

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3 Comments
Ultimate Partner David_Cree
457 Posts
Ultimate Partner

Hello Kelly,

I do not know why you would want to create a journal entry.

Simply use the Spend or Receive Money functions and the journal will be created for you. You will then not have to work out what is the Debit and what is the Credit side of the transaction. You can also use the functions for transfers between bank or credit card accounts.

Creating a Journal entry is very old fashioned in a modern software like MYOB and is rarely required beyond end of year adjustments.

 

Regards

David

Experienced Cover User Kelly81
225 Posts
Experienced Cover User

I use journals for my funds introduced (capital) and for drawings.

 

Spend Money and Receive Money are no good for doing this.

 

It was how I was advised to do it.

 

Thanks

Ultimate Partner David_Cree
457 Posts
Ultimate Partner

Good morning Kelly,

 

You can use Spend and Receive Money for these transactions in the same way as any other income or expense. you just allocate the transaction to the appropriate account. See the screenshots below.

You can also setup rules for these transactions to save you even more time & effort.Capture1.JPGCapture.JPG

 

 

 

I hope this helps

Cheers

David