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Share your ideas for improving MYOB Essentials Accounting. Vote on ideas and discuss them with the MYOB product development team.

MYOB Essentials

Bank transactions: Allocation rules for Bank transfers

JeremyTM

5Posts

15Kudos

0Solutions

5 Posts
User
New Zealand

We move a bit of money around between our accounts, and it's a chore to have to manually enter each transaction.

 

So it would be great if there was a way to create an allocation rule which handles transfers between bank accounts.

 

"Allocation rules for Bank transfers"

6 Comments
Former Staff Richard_Puffe
112 Posts
Former Staff

Hi JeremyTM,

 

No need to create allocation rules for Bank Transfers. 

 

We hope to release either late this week or early next week a new feature which will make bank transfers a breeze to deal with. 

 

Below are some screen shots of the new feature (undergoing final QA at the moment). If you can't wait a week (hopefully less), then you will need to manually create bank transfer transactions. 

 

Below is the new option where you can sort all your transactions (regardless of which bank/credit card account) ion date order which makes it really easy to see transfers. 

 

Trfs 1.jpg

 

Below is the new Bank Transfer screen

Trf 2.jpg

 

 

I have many transfers in my own personal account and I am waiting for this feature to go live so I can complete them. It will take approx 5-10 seconds each transfer which is a huge time improvement on the current manual bank transfer process. 

 

Thanks

MYOB Moderator StevePick
113 Posts
MYOB Moderator
 
Experienced Cover User BWPanda
25 Posts
Experienced Cover User

I'm using MYOB AccountRight Plus and I can't see a way to create a rule to transfer between accounts... When I click New > Transaction Rule next to a bank feed transfer transaction, it brings up the New Spend Money Rule window.

 

This feature would be a welcome addition to bank feeds!

MYOB Moderator Matthew_W
2,173 Posts
MYOB Moderator

Hi BWPanda, this is the Live Accounts Ideas Exchange, where people can suggest things that they would like to see added to our Live Accounts product. To suggest this to be added into AccountRight, you can post it on the AccountRight Ideas Exchange, I'm sorry for the confusion on this point.

Experienced Cover User BWPanda
25 Posts
Experienced Cover User
MYOB Moderator CloverQ
7,001 Posts
MYOB Moderator

If you have bank feeds set up for both of the bank accounts involved in the transfer, Essentials Accounting will automatically pair them up as possible matches. In the new banking experience there a separate tab 'Transfer', which allows you to approve the matches.