Bank Feeds

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Hire
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Bank Feeds

Hello

 

I'm trying to reconcile my bank account I have bank feed and it is showing wages auto reconciled and also the wages paid through the bank so showing twice when I tick the wage amounts  it is the correct amount as bank but shows unreconciled in Myob please help I'm going crazy trying to work it out.

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MYOB Moderator CloverQ
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Re: Bank Feeds

Hi @Hire

 

Please allow me to extend you a warm welcome to the Community Forum. I hope you find it an useful tool.

 

When reconciling bank accounts with bank feeds, if you have already recorded the transaction in Essentials Accounting, it is important to match the bank transaction to the Essentials transaction. 

 

In this case, you'll need to match the bank transactions to the payroll transactions recorded; if you allocated the bank transactions to an account, effectively the system will create new Spend Money transactions automatically, which will result a double up. 

 

Please go back to Bank Transactions, locate the auto-reconciled bank transactions, redo the reconciliation and make sure they are matched to the correct payroll transactions. Feel free to let us know how you go. 


Kind regards,
Clover
MYOB Client Support
Hire
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Re: Bank Feeds

Hi Clover,

 

Below is a screen shot of bank reconciliation the individulal wages show up as well as the auto bank feedMyob Issue Screenshot.PNG

MYOB Moderator CloverQ
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Accepted Solution Solved Solution

Re: Bank Feeds

Hi @Hire,

 

I can see the bank transaction of $238.25 is the total payment of two payroll transactions, so in order to reconcile those payroll transactions, please match them both to the bank transaction of $238.25.

 

Please go to Banking > Bank Transactions, locate the bank transaction of $238.25, delete the existing allocation/matching, then use the drop down arrow to access the Match screen. Change the filter to show All transactions, locate and tick both payroll transactions, the Remaining Balance shown at the bottom right corner shall be $0, save the match. Now these two payroll transactions are both reconciled. 

 

I would also suggest checking out this Online Help article, which provides more details about the difference between allocate and match, and how to handle them both: 

 

Working with bank transactions

 

I hope this helps.


Kind regards,
Clover
MYOB Client Support
Hire
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Cover User
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Hire
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Re: Bank Feeds

Thanks Clover your the best

Experienced Cover User cbarratt
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cbarratt
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Re: Bank Feeds

Hi 

I have the same problem duplicate debit in the bank account, how do you match 2 x debits to each other. 

Experienced Cover User cbarratt
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cbarratt
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Re: Bank Feeds

Thank you read a bit further and found it many thanks

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