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craiginoz's avatar
craiginoz
User
2 years ago

Undeposited Funds

Hi I am migrating from Account Right to Business Lite. In Account Right I used Undeposited funds and then Banked them in Receive Money. Is there a similar procedure in Business Lite? I can't seem to find it. Thanks for your help.

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  • AlanT's avatar
    AlanT
    Partner
    2 years ago

    Hi craiginoz 

     

    No, it looks like that is another powerful feature of AccountRight that does not exist in MYOB Business.

     

    You would need to receipt your customers payments into the Undeposited Funds account and then when you deposited the funds into your working bank account this would be posted as a deposit from Undeposited funds.

     

    The ability that AccountRight has to list for you the payments that were still waiting to be deposited and automatically prefill the deposit transaction has been lost.  I guess MYOB believe that nobody does this any longer, so out it goes.

     

    AlanT

    • craiginoz's avatar
      craiginoz
      User
      2 years ago

      Thanks for your reply Alan.

       

      Frustrating, the problem is I use ServiceM8 (Job Management program) that posts payments straight into MYOB. Will have a look at your solution. Thanks again