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MYOB Essentials/MYOB Business

Banking: Allow transactions to be split between an Income account and expense account

Partner

2Posts

1Kudos

0Solutions

2 Posts
Partner
Australia

We have over 200 farming jobs which have milk income and cattle income and other programs allow for an income item to be dissected to be grossed up and expenses applied.  Eg Milk Income with Milk levies charged to arrive at the net amount. MYOB would be certainly get a large share of our business if this feature was added, Cashbook currently does so but rules out any clients who need payroll.

 

"Allow transactions to be split to allow expenses to offset income in bank feed"

Current Status: Done
Last Changed: October 2020

Hi Everyone


MYOB Essentials allows for the user to split a banking transaction between multiple accounts using the Allocate option. Within this option, the user can enter in a higher amount in the Amount section and have that offset by another amount (as a negative).

For example, if the bank transaction is a deposit of $100 this can be allocated as follows:

$110 to the income account

-$10 to an expense account

1 Comment
Steven_M
MYOB Moderator
42,844 Posts
MYOB Moderator

Hi Everyone


MYOB Essentials allows for the user to split a banking transaction between multiple accounts using the Allocate option. Within this option, the user can enter in a higher amount in the Amount section and have that offset by another amount (as a negative).

For example, if the bank transaction is a deposit of $100 this can be allocated as follows:

$110 to the income account

-$10 to an expense account