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MYOB Essentials

Bank rules: Specifying if its a deposit or withdrawal rule

Cover User

8Posts

15Kudos

0Solutions

8 Posts
Cover User
New Zealand

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"

Current Status: Open
Last Changed: February 2015

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.

9 Comments
Steven_M
MYOB Moderator
41,697 Posts
MYOB Moderator

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
Experienced Partner
77 Posts
Experienced Partner

Very important!

KENE
Partner
11 Posts
Partner

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
4 Posts
Cover User

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

Toni_Maree
4 Posts
Cover User

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
Partner
4 Posts
Partner

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
Partner
4 Posts
Partner

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
Partner
13 Posts
Partner

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
3 Posts
Cover User

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.