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Allocating bank feed to invoice and payment

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Contributing User KatrinaG
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KatrinaG
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Allocating bank feed to invoice and payment

Hi,

 

I've tried to look through all the existing help articles and a couple of forum posts, but I haven't found a solution to my current problem. I am using MYOB Essentials.

 

I have bank feeds setup, and every day or two I sweep through transactions from Tyro into my bank account.

 

In this example, let's say that my Tyro amount that I swept was $38, as the Tyro transaction comprised:

  • Invoice Day 1 $10
  • Invoice Day 2 $10
  • Invoice Day 3 $10
  • Invoice Day 4 $10
  • Tyro fee $2

So while the total of the four days invoices was $40, Tyro automatically deducted a $2 account fee, leaving a net amount of $38 which was swept into my bank account.

 

In MYOB, I am able to allocate my four separate invoices to the bank feed, with invoice Day 4 showing as being short $2. However, I am unable to allocate the bill that I have created under Supplier Tyro as it simply does not show up to let me allocate it. I suspect this is because this is because this bank feed is technically a 'money received' transaction, therefore it blocks me from selecting bills.

 

What's the best way of addressing my problem?

 

Kind regards
Katrina

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MYOB Moderator Hayden_B
5,988 Posts
MYOB Moderator
Australia
Hayden_B
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Re: Allocating bank feed to invoice and payment

Hi @KatrinaG,

 

Welcome to the MYOB Community Forum, I hope you find it a wealth of helpful information.

 

You can add a negative line to an Invoice to reduce the total of the Invoice enough to match your transactions to. If you allocate that line to the relevant Expense/Cost of Sales account then this account will increase.

 

For example:

temp.png

 

Please let us know how you get on!

 

Cheers,
Hayden

MYOB Social Support


Cheers,

Hayden
MYOB Product Analyst

Helpful links:


Product Ideas: AccountRight | Essentials | MYOB Capture | MYOB Invoices
Support Links: Support Notes | Forum Search | Status Page

Contributing User KatrinaG
6 Posts
Contributing User
KatrinaG
Contributing User

6Posts

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0Solutions

Re: Allocating bank feed to invoice and payment

Hi @Hayden_B
Perfect, that was exactly the solution that I needed.

Thanks! 😃
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