1 Bank transaction = 2 MYOB transactions : How do I match the bank feeds?

This thread is now closed to new comments.
Some of the links and information provided in this thread may no longer be available or relevant.
If you have a question please start a new post.
Highlighted
3 Posts
User

3Posts

0Kudos

0Solutions

Solved: Go to Solution

1 Bank transaction = 2 MYOB transactions : How do I match the bank feeds?

Company data auditor likes Payroll Liabilities paid through that specific function in the payroll area. But when paying a quarterly BAS, GST and PAYG together in one bank transaction, it proves difficult to match the one bank payment to the 2 MYOB transactions that make up the BAS payment.    Is there a way around this other than hiding the transactions in bank feeds and manually reconciling. 

2 REPLIES 2
Highlighted
3 Posts
User

3Posts

0Kudos

0Solutions

One BAS payment - 2 MYOB transactions - how to match Bank Feeds ?

This is for AccountRight ....

 

Company data auditor likes Payroll Liabilities paid through that specific function in the payroll area. But when paying a quarterly BAS, GST and PAYG together in one bank transaction, it proves difficult to match the one bank payment to the 2 MYOB transactions that make up the BAS payment.    Is there a way around this other than hiding the transactions in bank feeds and manually reconciling. 

Highlighted
Ultimate Partner
2,573 Posts
Ultimate Partner
Australia
Ultimate Partner

2,573Posts

2,342Kudos

560Solutions

Accepted Solution Solved

Re: One BAS payment - 2 MYOB transactions - how to match Bank Feeds ?

@ScarlettLP11 

 

Welcome to the MYOB Community Forum, I hope you find plenty of useful information.

 

As the bank feed need to be an exact amount to match the only way to match multple transactions to a single transaction is to use a clearing account like Undeposited funds.

Make all the multiple transactions paid from the clearing account and the single bank feed transaction entered as a spend money from the bank to the clearing account.

For Payroll this can be auromated just make sure all pays are "paid method" cash where you have the account for cash payments setup as the Payroll Clearing account and set a rule in bank feeds as well.

 

If my response to your query and has helped, please mark my post as a solution to help others in the future.
Graeme Day
Registered BAS Agent #24745540
Gralord Enterprises Pty Ltd
Mobile: 0402 841 627
graemeday@optusnet.com.au
MYOB Certified Consultant
MYOB Diamond Partner

Didn't find your answer here?

Try using advanced search to find a post more easily Advanced Search
or
Get the conversation started and make a new post Start a Post