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Bank Feeds and Transactions not showing

Experienced Cover User AATurner
10 Posts
Experienced Cover User
Australia
AATurner
Experienced Cover User

10Posts

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Bank Feeds and Transactions not showing

Hi All

 

I have a few transactions on the bank feed side and yet they are not showing on the 'myob' transaction side.  I have double and tripled checked and they are in my bank register?

 

Also how do I account for transactions that are contra transactions in my bank account  - ie  an in and out of $1000 or a transaction in Electronic Clearing account that came back as incorrect bank account, then was successfully paid?

 

Thanks in Advance

EM

4 REPLIES 4
MYOB Moderator Neil_M
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Neil_M
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Re: Bank Feeds and Transactions not showing

HI @AATurner 

 

For a match to happen automatically between a bank feeds transaction and the corresponding transaction there are a couple of things that need to be true inside the file for the transaction. These are:

 

  • It has to be the same type of transaction, eg a withdrawal
  • The date must be the same
  • Both transactions have to have the exact same amount
  • The transaction in AccountRight cannot be reconciled or ticked to be reconciled
  • The transaction must impact the same bank account

 

If any of the above aren’t true then there will be no automatic match, in which case you would need to use the Find option to locate the corresponding transaction. It might also be worth double checking that those transactions haven’t previously been ticked in the Reconcile Accounts window.

 

As for contra transactions, as the real-world bank account wouldn’t be impacted, there won’t be any bank feeds transactions to match to. These sorts of transactions would need to be ticked in the Reconcile Accounts window to reconcile them

Regards,
Neil

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Experienced Cover User AATurner
10 Posts
Experienced Cover User
Australia
AATurner
Experienced Cover User

10Posts

1Kudos

0Solutions

Re: Bank Feeds and Transactions not showing

Thank you Neil

 

The contra items are both in the bank account.  ie a debit against the bank and a credit against the bank (a reversal), but, no transaction in MYOB to match, so was wondering how I would address this.  I assume I would need to just to an entry and then a reversal of same and this would fix it?

 

The other item/s  are an electronic payment return, but the credit in the EFT account does not hit the bank account, is this correct?

 

Cheers

Alan

Experienced Cover User AATurner
10 Posts
Experienced Cover User
Australia
AATurner
Experienced Cover User

10Posts

1Kudos

0Solutions

Re: Bank Feeds and Transactions not showing


@Neil_M wrote:

HI @AATurner 

 

For a match to happen automatically between a bank feeds transaction and the corresponding transaction there are a couple of things that need to be true inside the file for the transaction. These are:

 

  • It has to be the same type of transaction, eg a withdrawal
  • The date must be the same
  • Both transactions have to have the exact same amount
  • The transaction in AccountRight cannot be reconciled or ticked to be reconciled
  • The transaction must impact the same bank account

 

If any of the above aren’t true then there will be no automatic match, in which case you would need to use the Find option to locate the corresponding transaction. It might also be worth double checking that those transactions haven’t previously been ticked in the Reconcile Accounts window.

 

As for contra transactions, as the real-world bank account wouldn’t be impacted, there won’t be any bank feeds transactions to match to. These sorts of transactions would need to be ticked in the Reconcile Accounts window to reconcile them



Thank you Neil

 

The contra items are both in the bank account.  ie a debit against the bank and a credit against the bank (a reversal), but, no transaction in MYOB to match, so was wondering how I would address this.  I assume I would need to just to an entry and then a reversal of same and this would fix it?

 

The other item/s  are an electronic payment return, but the credit in the EFT account does not hit the bank account, is this correct?

 

Cheers

Alan

MYOB Moderator Neil_M
10,788 Posts
MYOB Moderator
Neil_M
MYOB Moderator

10788Posts

1210Kudos

1526Solutions

Re: Bank Feeds and Transactions not showing

HI @AATurner 

 

For transactions that happen in the real world, generally speaking its best to mirror what has happened in real life as closely as possible. So if a transaction went into and came out of the bank account in the real world, you would need the corresponding transactions inside your file to match up to the bank feeds transactions.

 

When an electronic payment is reversed in AccountRight, it does impact the bank account to reverse out the amount and the components are added back to the Prepare Electronic Payments window so that it can be prepared again. As for whether or not a particular transaction should impact on a particular account, this is something you should be speaking with your accountant about.

Regards,
Neil

MYOB Community Support

Online Help| Forum Search| my.MYOB| Download Page

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