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Duplicated bank feed entries by MYOB

LL2022
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Duplicated bank feed entries by MYOB

Hi, I have had a problem with duplication of bank entries (about 2) since Feburary 2022. When I mathched the transactions on "Bank transaction" page, all the bank entries are perfectly matched. However when I goes to "Bank reconciliation" page, some duplicated entries show up for no reason. Although I can reconcil the rest of the entries, but the duplicated entries went to outstanding cheques which did not reflect the actual performance of the company. Does anyone having the same problem here?

  

 

 
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SamaraM
MYOB Moderator
257 Posts
MYOB Moderator
MYOB Moderator

257Posts

16Kudos

27Solutions

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Re: Duplicated bank feed entries by MYOB

Hi @LL2022 


Welcome to the Community Forum.

 

The Bank Reconciliation tab will show any transactions se the bank account you are reconciling and has not previously been reconciled. To investigate why this is occurring I would compare those duplicated transactions, to see how they were entered.

  • If you allocate or create a bank feed rule for a payment already entered into the software you will find an additional spend/receive money. 
  • You might have accidentally put your bank account in the wrong field. If you find a transaction that's a bill or invoice, that might be the case.  

 

Here is our help article that explains how Bank Feeds transactions interact with the transactions already in your file which may help: Working with bank transactions.

 

If my response has answered your enquiry please click "Accept as Solution" to assist other users find this information.

Cheers,
Samara

MYOB Community Support

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

LL2022
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User

2Posts

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Re: Duplicated bank feed entries by MYOB

Hi Samara,

 

Thank you for the response. However we didn't setup any bank feed rule and there's only one bank account for our company.

 

 

 

SamaraM
MYOB Moderator
257 Posts
MYOB Moderator
MYOB Moderator

257Posts

16Kudos

27Solutions

Re: Duplicated bank feed entries by MYOB

Hi @LL2022 

 

The Bank Transactions window shows the Bank Feed (or Imported) Transactions, whereas the Reconcile Accounts window shows the MYOB Essentials transactions and Bank Feeds brought into your file from your bank.

These could be any of the following; payments against invoices or bills, payruns, journals, transfers etc. 

 

As it's only duplicated on the Reconcile Accounts window, it seems that it was somehow entered twice.

To investigate the cause of the duplicates we first need to find out where the 2 transactions have come from.

 

When you are using Bank Transactions, there are 2 options. Match or Allocate.

  • Match is used when you have an existing MYOB transaction (or bank transfer)
  • Allocate it used for transactions not entered in MYOB, and automatically creates a transaction

 

If you had already created a payment on the software and then either:

  • Allocated the same transaction
  • Had it set up to Automatically match bank transactions to MYOB bills and invoices (You can check this under Banking > Bank rules) 

That would be the cause of it creating a 2nd transaction and appearing in your reconciliation twice.

 

Once you can identify the cause of the duplication, then you can delete or reverse one of them, and make sure to always match transactions that have been previously entered.

 

If the above information does not resolve your issue, can you send a screenshot to give me a clearer understanding of what you're seeing: (redacting any sensitive information or sending it by Private Message)

  • The Reconcile Accounts window
  • Open the reference number of an example of the duplicates and take a screenshot of both (So I can see the type of transaction they both are)

If my response has answered your enquiry please click "Accept as Solution" to assist other users find this information.

Cheers,
Samara

MYOB Community Support

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

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