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

MYOB Essentials

Banking: Allow negative transactional line

Cover User

1Posts

2Kudos

0Solutions

1 Post
Cover User

Can you please update the software to allow a dissection function where one of the entries is greater than the amount recieved or paid? Some of our client need to break down transactions with negative amounts.

 

For example when  a client receives payments where withholding tax is deducted.  For example amount received is $950, this needs to be coded accordingly

 

Cr Gross income $1000

Cr GST $150

Dr W/H tax $200

 

This function was easily handled in Banklink but we can not do it in MYOB Essentials

 

"negative amount in dissection"

Current Status: Done
Last Changed: January 2015

Thanks for your suggestion. You can now enter in negative lines when entering transactions in MYOB Essentials.

11 Comments
1 Post
User

MYOB please attend to this issue as soon as possible.  I don't understand why we can dissect properly in MYOB Cashbook but not in MYOB Essentials.

MYOB Moderator
3,488 Posts
MYOB Moderator

Thanks for your suggestion. You can now enter in negative lines when entering transactions in MYOB Essentials.

Experienced Partner
72 Posts
Experienced Partner

Sorry can this be confirmed? I was just in the Allocation area and it definitely wouldn't allow me to enter a negative amount.

MYOB Moderator
37,473 Posts
MYOB Moderator

Hi @LiamSmith 

Can you confirm what window you are trying to enter that negative amount into?

Experienced Partner
72 Posts
Experienced Partner

Bank Transactions > Click on Memo, then in the Withdrawal details screen, change to 'Split' and try to put a negative in the Amount field highlighted

Untitled_Clipping_030215_102827_AM.jpg

MYOB Moderator
37,473 Posts
MYOB Moderator

Hi @LiamSmith 

Thank you for confirming that information.

You can enter a negative amount for transactions not on when splitting a bank feed transactions. If you did need to add in a negative line for a banking transaction you would need to record it outside of the Bank transactions window i.e Banking>>Spend Money and use the Match option to match the Bank transaction to the Essential transaction.

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Experienced Partner
72 Posts
Experienced Partner

Thanks Steve,

 

That's what we ended up doing but it would be a great time saver if we could add these in the main screen; saves a step and saves breaking the workflow.

 

We need to do this for selling costs on livestock transactions, grossing up paypal transactions or foreign currency purchases, grossing up freelance transactions etc etc...

 

Cheers,

Liam

MYOB Moderator
37,473 Posts
MYOB Moderator

Hi @LiamSmith

Thank you for your feedback.

As mentioned currently the negative lines are only for transactions not splitting bank feed transactions. however I'll share your feedback with the team

Contributing Partner
15 Posts
Contributing Partner

Hi,

 

I am with Liam, this is a massive issue in our decision to recommend MYOB Essentials to our client base as we have a large number of Agricultural clients who sell goods with charges against them. Whilst your workaround is ok, if clients are moving from a BankLink environment to Essentials and learning to code, I believe your workaround is a real risk for duplicated entries. Please fix the issue properly and allow the client to code the transactions on the bank feed screen.

 

 

 

MYOB Moderator
37,473 Posts
MYOB Moderator

Hi @Bronny

Thanks for your comments.

The new banking experience with MYOB Essentails allows for negative lines to be allocated for the transaction via the Banking screen.

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CC @LiamSmith