Bank Feeds - Using CARD for Tax Rate and Multiple VOID Lines

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Contributing Cover User TimAtOscarPOS
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Bank Feeds - Using CARD for Tax Rate and Multiple VOID Lines

I use "non accounting savvy staff" to do our Bank Feeds. So I have set up a number of CARDS they can use to get the right G/L account selected when doing a Spend / Receive Money. The CARD name includes the text that appears in the Bank Feed and the Income / Expense Account is preset. ( eg EXP GIT HUB is set to 6-1230 R&D ).

 

Worked great until I realised "Use Suppliers Tax Code" is ignored Smiley Indifferent

 

So now my CARDS all include the TAX to use ( eg EXP GIT HUB (N-T) ).

 

Works great, provided htey make sure the Tax Rate in the CARD Name matches the Spend Money Tax Rate

 

BUT ...

 

If they change the Tax to match, MYOB will automatically add a second transaction line which then gets turned into a VOID in the G/L

 

How do I prevent getting a VOID for every single bank feed transaction across the multiple bank feeds i use ?

 

Did I mention I am slightly OCD and all those VOIDS will be worse than the volume control being set to an odd number ?

MYOB CARD.png
MYOB SPEND MONEY.png
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Ultimate Partner GDay53
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Re: Bank Feeds - Using CARD for Tax Rate and Multiple VOID Lines

@TimAtOscarPOS 

 

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

 

If you are creating Spend Money transaction from the Bank Feeds why arn't you using the Transaction Rules?

When a transaction shows in the bank feeds with the memo EXP GIT HUB (N-T) create a new Transaction Rule like this:

 

Spend Money rule.PNG

The Bank Feed will now create the Spend Money transaction allocated to the correct account with the account Tax Codes as listed in the Chart of Accounts.

On the subject of Tax Codes - why are you using N-T (Not Reportable)?

 

 

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
First Class Accounts Clayfield
Mobile: 0402 841 627
gday@firstclassaccounts.com
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Contributing Cover User TimAtOscarPOS
5 Posts
Contributing Cover User
Australia
Contributing Cover User

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Re: Bank Feeds - Using CARD for Tax Rate and Multiple VOID Lines

 

Transaction Rules might work too - will have a look at them Smiley Happy

 

N-T .. coz that's what my bookkeeper said to use - is overseas payment

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