Bank rules: Specifying if its a deposit or withdrawal rule

[mel_nee]

It would be so much better if when we create allocation rules if we could choose whether its for a deposit or a withdrawl.  The main example is EFTPOS

Eftpos can be sales = deposit/income OR

Eftpos can be monthly rental fee = withdrawl/expense

Given the additional changing info that appears on the bank statement being able to simply choose the coding for each different type Withdrawl vs Deposit would make life and allocations tidier.

Thanks

"Allocation rules - choose type of transaction deposit vs withdrawal"

[Steven_M]

Hi @mel_nee 

Thank you for your idea in regards to MYOB Essentials and managing allocation rules.

Currently it will match both deposits and withdrawals based on the rule's bank transaction description. 

I would encourage others that would like to see the ability to create an allocation rule where you can decide if its a deposit or a withdrawal to vote for this idea and comment if required.

[DebraAnderson]

Very important!

[KENE]

I am constantly encountering this problem.

Especially when creating a rule based upon amount.

Another solution would be to recognise negative amounts in rules.

[Toni_Maree]

I agree that this needs to be done.  With most sales recorded by eftpos it is a pain to code individually

[Toni_Maree]

I agree that this needs to be done.  With most sales recorded by eftpos it is a pain to code individually. You could do this in Banklink.

[SharonKGL]

We would kile to be able to set a rule across all deposits to code them all to sales (in Banklink you could memorise all deposits to sales) rather than individually set a rule for each transaction.

[KerrinB]

Yes I would love that.  Somehow I managed to set a rule that i thought would be doing that but I lost all detail of who the payment was from.

[Arunnz]

While creating rules it never asks which type of transaction needs to be auto coded. For e.g. if I create rule with description "abc company", it codes all debit & credit entries with description "abc company" as per rule set. Where as in most of the cases even with same description debit & credit entries have different codes.

[Mary-Anne123]

Re - Bank Rules

Could the bank allocation rules section include an option to differentiate between deposits and withdrawals, please?   For instance if the rule options included a section to choose whether it is a deposit or a withdrawal it would solve my problem.

I have a company which we do business with - Company X (for convenience). 

(1)  We have to pay Company X using one account 

(2)  For another different reason they send us money from time to time which needs to be attributed to a completely different account.

(3) The bank description is just the name of the company in both cases, so the payment (which is on Direct Debit) and the receipt end up going to the same account, which in my case is incorrent..

Also, if anyone has any ideas to help me, I would be very happy to receive them.  

[Steven_M]

Hi Everyone

With MYOB Essentials you specify the Transaction type i.e. Receive Money transaction or Spend money transactions this will determine if that transaction will be a Withdrawal or a Deposit.

For more information on creating rules do check out Help Article: Creating rules