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I am currently paying creditors in groups each friday and would like to know how i can match this bulk payment each week on the bank account that is not at this point in time being paid Electronically with the MYOB Bank link Function . the payment occurs stand alone ie the old way for now.
I have look at the help module and this only has transactions relating to Spend Money ?????
any tips would be most apprecated
JJJ @ 2280
Solved! Go to Solution.
Hi there @JJJ2280
First of all, please allow me to extend you a warm welcome to the Community Forum. I hope you find it a valuable resource.
You are on the correct path to utilise Electronic Payments in order to match them to the batch payment amounts showing in Bank Feeds.
When you record Spend Money or Pay Bill transactions, please use the option 'Group with electronic payments' at the top so the payments are posted to the clearing account for further processing. You can then go to Banking > Prepare Electronic Payments (shown in your screenshot) > tick the payment(s) > click on 'Bank file' to record the total amount paid. You would then be able to match the electronic payment to the bank transactions.
A clearing account is required for electronic payments, by default Electronic Clearing Account is set as the linked account for electronic payments. You can view this setting via Setup > Linked Accounts > Accounts & Banking Accounts > Bank Account for Electronic Payments.
Both Spend Money and Pay Bills have the option to 'Group with Electronic Payments', therefore the same method applies to both.
Please feel free to let us know how you go.
Thank you that should work a treat , the next step to automate the AP process is to pay these like we do with the payroll file how do we go about sending these to the Bank and paying Creditors in a group just like we do Employees is it a very similar process
Both Spend Money and Pay Bills would give you the option of 'Group with Electronic Payments'. Once you have recorded the transactions, these payments would appear under 'Prepare Electronic Payment' to be processed. From this point, the process is exactly the same as for payroll transactions, given that you have already entered the bank details in supplier cards:
- Tick the transactions you wish to pay.
- Create the .ABA file.
- Upload the .ABA file via the bank portal.
For step-by-step instruction or see it in action, I would suggest checking out this support note: Making payments electronically.
Hope this helps. Please feel free to post again if you have more queries.