Recurring Transactions: Record on due date, not when file is opened

[BA]

The functionality of MYOB AccountRight offers to record Recurring Entries automatically on a due date. However,  if the file is not opened on the due date next time the file is opened the system date is used instead of the nominated date.

Can a fix be considered please?

[mlmlml]

I open my MYOB AR Std on average once a week or even less often to do my accounts. And I've got a list of recurring transactions which fall on different days - like insurance, mortgage repayments, etc. The problem is that the recurring transactions are automatically recorded with the date I open MYOB, not with the date when they were due. That makes matching with bank statements quite a challenge - yes I know I can click on each automatically recorded transaction and change the date but for that I need to know when it was due - was it yesterday? Was it on Monday? And also that only works for Spend money / Receive money, not for Transfer between accounts (e.g. for mortgage repayments) - those dates can't be changed and the transaction has to be deleted and re-entered.

For example an insurance payment goes out every 2 weeks on Thursday - 15/08, 29/08, 12/09, etc. and as such is set in the recurring transactions list. Today I opened MYOB and the payments were all recorded with today's date (13/09) instead of 15/08, 29/08 and 12/09. That makes the automatic recording pretty useless.

Can MYOB please support recording on the due date? Maybe there can be a switch to turn it on/off for people who prefer the current behaviour.

Thanks!

[ASWatCR]

Moderators - can you pls confirm if this is correct? Is there already a setting that needs to be adjusted? II not, pls address as soon as possible as it does make the process pretty "useless".

ps I have voted for it, as it seems to be a given.

[IanChait]

definitely should be changed

[EXSKerry]

A very good idea, this would save a lot of time for me on a file that I only open 2 or 3 times per week

[Matthew_W]

Hi BA, thank you for your suggestion. This is something we have received a fair amount of feedback on and will certainly consider it as an improvement to add into a future release.

[Dabel]

This is not an option.  It is ABSOLUTELY NECESSARY.

MYOB is supposed to cater for small businesses.  If they have accountants working for them at all they are not always full time.  So it is essential that after someone has gone to the trouble to indicae the due dates and frequency for recurring transactions that they will post using that information no matter when the accounts are next opened.  Cost me 2 days work after I returned from holidays to correct.

[Steven_M]

Hi @Dabel

Thank you for your comments in regards to this idea.

Along with commenting your can show your support for an idea on the AccountRight Idea Exchange by voting. To vote for an idea select the + VOTE button to the left of the idea's name.

[Michell_Feitosa]

Why MYOB does not have payment due date field clear mentioned on the "Enter Sales/purchases” windows.

The Term that we pick make the due date mysterious. Why that? We never know if the due date is right or not.

Would be so much simpler to have an extra field under the Date, calls “Payment due date” which could be automatically populated base on the Terms of the sales or Card, or even filled manually by the user. As a normal, logic and common feature in any system.

Hence, will have no problem in any other feature of MYOB regarding due dates. No need to keep computer on for Recurring options, Statements, Invoices

Must of the companies have due dates base in… “no basis:. Its just a random date they agreed with their client to pay their invoices. It’s so frustrated when you need to change the "date" to make it as a due date using C.O.D. as a term, then you lose the record when the sales happened, just to make this date as the due date of the transaction.

I cannot use the “Promised date” as it is for shipping date, that is not the payment due date

Example:

Today date is 04/08. Using Enter sales, sales type invoice, Layout Item.

E.g 1. This client need to pay me tomorrow. The only way I record payment date is changing the “date” (that I recon should be keep as today date as I would like to have a record when the sales happened).

E.g 2. The client will pay me next week on the 10/08. Again I need to change the date to make it as the due date.

E.g 3. The client was supposed to pay me yesterday, I forgot to record it before, so I will record it with with the date for yesterday 03/08 to be as the due date.

We would never know when the sales was entered/recorded because we don’t have a due date filed, as we need to use the date filed as the due date. It’s sad, and unproductive.

I know that MYOB was developed by accountants, and for account purpose only, it does the job. But most of the small business rely on MYOB to record they day to day transaction and some simple and basic future is need to make MYOB useful for them, otherwise a shift for a competitor will be imminent.

If you have an idea easier than a due date field available in all transaction to be manually filed or automatically filled, please let us know, because I am anxious research a way to solve this issue.

[Steven_M]

Hi @Michell_Feitosa

Thank you for your feedback.

I see you have posted on Payment due date on Enter sales and purchase. I've responded to that post for you.

[hughesg]

If you have recurring transactions that are set to occur monthly you can select : Automatically record this transaction when due.

When I hover over that field there is a tool tip that says:

   Automatically record this transaction when due.

   Automatically record the transaction on it's due date and be notified when opening the company file.

But that is not what happens.

If you don't open MYOB for a week - then MYOB actually records the transaction using the date that you open MYOB.

It seems that either your tool tip is wrong - or your software is using the wrong date.