Bank Feeds: Ability to match one bank transaction to multiple myob transactions

[Geoff_Colwill]

I'm sure this would have been suggested before And I can't find it.

Two+eftpos payments received in one day.

Unable to match two to one?

Am I missing something?

If so please enlighten me.

Thanks

[turman2001]

It would be great in the bank feeds that you can also search unmatched payments in the undeposited funds account and link multple transactions to 1 bank feeds. This would be handy for eftpos transactions direct debits etc...

[EdgarMB]

Hi there,

Would it be possible if you can just create a check box wherein users can just tick the correct transactions to match with the total amount in the bank feed line?   This way it will be easier to just tick, match and approve multiple or split transactions, especially payroll transactions.

Regards,

[David_Cree]

Hello Edgar,

I would be using the Prepare Bank Deposit and the Prepare Electronic Payments features in MYOB to help to resolve the issues you appear to be having.

Do Receive Money entries for each customer using the correct Card. Select the Undeposited Funds as the Bank account for the deposit.

Then use Prepare Bank Deposit. select all the amounts and this should equal the total amount received. Select the Bank account that the funds have gone to.

The total will then appear in the Bank account and enable it to be matched to the Bank Feed amount.

A similar process is used for multiple payments that you make to suppliers or employees pays using the Electronic Clearing Account, even if you do not send the ABA file to the bank but use your internet banking functions.

For more details on using Undeposited Funds, Prepare Bank Deposit amd prepare Electronic Payments see these MYOB Support Notes -

http://myobaustralia.custhelp.com/app/answers/deta​​il/a_id/9080/kw/9080

http://myobaustralia.custhelp.com/app/answers/deta​il/a_id/9244

Cheers

David

[EdgarMB]

Hi David,

Thanks for the quick reply.   Actually, the above post is not an issue but an idea for MYOB to think about.   In any case, if this is hard to do, users can always follow the multiple steps you have enumerated.    Cheers!

Edgar

[BecG1990]

I have a client who receives through their EFTPOS machine, payment for various clients invoices, as well as small amounts of funds for parts etc. 

Currently in MYOB the only way these can be reconciled is by creating a clearing account, matching the bank statement line to this account, and paying off the invoices / creating receive money through the same clearing account. 

There should be a way in which we can allocate part of the bank statement line to multiple invoices, as well as receive money transactions. I am aware that other softwares have this function at the moment and think it would be beneficial for MYOB to also have this, as I am sure my client isn't the only one with this issue. 

Thankyou!

[David_Cree]

Hello Bec,

Reconciling your bank account this way is the hard way to do it.

It is much easier, and more accurate to use the Prepare Bank Deposit function in the software.

in this way you can correctly allocate EFTPOS/ Card receipts to the daily amount showing in the bank statements, and to prepare the cash/cheques deposits.

the process is described in theis MYOB Support Note.

http://myobaustralia.custhelp.com/app/answers/detail/a_id/9080/kw/9080

One tip that is not in this support note is to set the default for the Undeposited Funds Account. go to Setup / Preferences / Banking and tick the option "When I receive money, I prefer to group it with Other Undeposited Funds."

Also see this website.

http://help.myob.com/wiki/display/ar/Preparing+a+bank+deposit

I hope this is of assistance.

Cheers

David

[Andrewh]

The ability to match a single bank transaction to multiple AR entries is an absolute must have, small business frequentley pay multiple invoices (seperate entiries in AR) in one payment amount.

There are also direct debits from suppliers processed which may relate to multiple invoices.

[Steven_M]

Hi @Andrewh

Thank you for your feedback in regards to this idea.

Along with commenting for an idea you can show your support by voting. To vote for an idea on the AccountRight Idea Exchange select the + VOTE button to the left of the idea's name.

[StevenB]

Sounds like extra work to me.  Thought MYOB was about saving time.  Can we have a split button like Xero?

[Steven_M]

Hi @StevenB

Thank you for your additional suggestion in regards to bank feeds and the request for a split button. I have shared your thoughts with the team.