Allocating receipts whilst changing from MYOB Essentials to Account Right

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Allocating receipts whilst changing from MYOB Essentials to Account Right

Hi,

I am tansitioning from MYOB Essentials to MYOB Account Right.  As they don't talk to each other I have manually enterted all my basic data into the new system so it is a gradual swap over, or work in progress.

We have begun invoicing out of AR but I still have bank feed set up in Essentials.  We are receiving payments from customers that contain payment of invoices out of both systems.  How do I allocate these payments in bank feed?

 

I'm assuming I need to set up a kind of Clearing Account in Essentials to park the partial payments or funds for the AR invoices...but I'm finding you can't allocate part of the payment to an Essentials invoice then allocate the remainder of the payment in to an account code.  Based on the Clearing Account idea would I then enter the opening balance of the trading account in AR to include the payments that need to be allocated to AR invoices and then do this through Receive Money?  Or do I enter the real opening balance in AR and journal in the various payments of new invoices?

 

Or am I over complicating this?  Problem is how to reconcile bank account in one system whilst taking payments in both.  Should I continue to allocate invoice payments in Essentials till the end of the month and manually reconcile those payments that belong to Account Right system? You can only have bank feed for a single account into one version of myob

at a time apparently.

Thanks in anticipation.  My accountant is out on sick leave so I am trying to work this out alone.

 

 

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Re: Allocating receipts whilst changing from MYOB Essentials to Account Right

Hi @Robdog 

 

One possible way to handle this, given both systems are running in parallel, would be to record the sales in both programs. For MYOB Essentials you wouldn’t necessarily need to record invoices in the same level of detail, however having the invoices with the same amounts would make it easier for allocating payments in MYOB Essentials. You wouldn’t need to reconcile both systems as long as the information was getting entered into the file you were going to be using going forward

Regards,
Neil

MYOB Community Support

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Re: Allocating receipts whilst changing from MYOB Essentials to Account Right

Thanks, this gave me food for thought.......I have gone with receipting them in both via the following:

1. reconciling Essentials up to the point where I started receiving payments for both sets of invoices

2. setting up a ghost account code within the Equity group in Essentials so I receipt the payments there by firstly paying off the Essential s invoice in Banking>Take Payments and the payment for the AR invoice in Banking>Receive Money

3. then allocating the overall payment in Bank Feed to the Customer Payment (CP) and the balance to the Dedtor Payment (DP)

4  then go to Account Right and receipt the payment for that invoice in Sales>Receive Payments

Thanks.

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