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MYOB Essentials

Setup: Recurring transactions in MYOB Essentials

29Posts

561Kudos

0Solutions

29 Posts
Partner
Australia

Good morning

 

Could you kindly advise if the following items are possible in LiveAccounts - or can be added to the development list?

 

- Can we have recurring transactions for sales, bills, spend money & receive money

 

Thank you

 

Heidi

Current Status: Not Now
Last Changed: July 2018

Hi everyone, 

Thank you once again for all your comments and votes on this idea.  As we've mentioned in the past, the ability to set up recurring transactions in MYOB Essentials is a significant piece of work. While we understand and acknowledge the need for this and have this as one of our top candidates for product enhancements, we don't foresee it being delivered in the next 12 months.  Thank you for your patience. 

For information about the recent changes to the Idea Exchange page and Idea Statuses,  please read this article: Changes to our Idea Exchange pages.

219 Comments
DuncanS
Ultimate Partner
1,858 Posts
Ultimate Partner

I record Monthly Depreciation and Interest by Journal.

 

Some (smaller) clients provide information in Excel/Summary format.

I enter Income and Expenses on a monthly/quarterly basis by Journal.

Wages/PAYG - W are also entered on a quarterly basis by Journal.

The Business Owner is provided with a quarterly P&L and Balance Sheet.

   

It would be beneficial to have Recurring Journal Entries in MYOB Essentials..

 

Bank Feeds/Bank Rules have diminished the need for Recurring Entries for some businesses..

STP as it stands will require micro businesses to report each pay day using software - my understanding is that the STP requirements for micro businesses are yet to be finalised. 

 

Duncan Smith

Business Advice + Tax

emz126
Contributing Cover User
10 Posts
Contributing Cover User

I would like to see a recurring feature in the general journal added to the MYOB Connected Ledger & Essentails products. This would save time and errors in forgetting to post a journal every month. Hopefully this can be added to the development pipeline Smiley Happy

S_D_L
Experienced Cover User
16 Posts
Experienced Cover User

I've been using the Essentials system for a number of years now and we periodically are asked what enhancements would improve our efficiency. Every time I've requested the ability to set recurring bills and 'spend money' transactions. I see that we have been given recurring sales invoices as an option and can't for the life of me believe that is more requested then recurring bills! Ironically, MYOB sends an electronic bill every month yet I have to input it every month instead of just adding the invoice number to a recurring bill set to generate on the 2nd of every month. I don't understand why a pared back system doesn't have a simplified option for recurring bills, recurring transfers between accounts, etc.

One of my other hobby horses with Essentials is not being able to batch update items that are purchased from the same supplier. Even just a simple addition to add the supplier name to a item for anyone to order.

JasonA
Contributing Cover User
13 Posts
Contributing Cover User

Or at least enable a way in AE Client accounting to set them up

Disabled1
8 Posts
Cover User
  • Issue: No facility to repeat Sales Invoices in MYOB essentials

 

 

  • Response: Critical will have to (I don’t want to) commence transfer all of my business and clients business to XERO in the coming this week unless I have a response.

 

  • Difficulty level for MYOB TEAM: Simple

 

  • Cost to my business: 500 hours per annum
pj2
1 Post
User

There is a find transactions button in MYOB Account Right you can search for an account, card etc. and transactions will come up, you just specify the dates etc. This is very useful for finding transactions. I am new to MYOB Essentials. Can you do this in MYOB Essentials or not? Also as mentioned by other users recurring entries is extremely useful and I think recurring entries should be available in MYOB Essentials to save time. Thanks.

normbay1
Contributing User
7 Posts
Contributing User

myob asks us to use bank feeds to improve productivity. I had to abandon this process in AccountRight as the system would not regularly recognise transactions and it meant having to continually adjust entries. 

I made a big improvement by setting up recurring GJ transactions, which could then be edited against the bank statement, e.g. bank interest, every month but a slightly different amount. Several recurring transactions could be entered quickly in one GJ a month in this fashion.

It's very disappointing to lose this function by transferring to Essentials.

chizzy123
4 Posts
Cover User

HI

 

Is this going to happen or should we switch to Xero?

StadiumManager
3 Posts
User

It would appear this was last updated in July 18. Can you advise please the current status of this improvement?

I am in the middle of assessing MYOB vs Xero and this is a critical piece as we have a large amortisation/depreciation ledger and I am not keen to be manually entering these every month.

Is there a quicker path to this for everyone - perhaps the ability to import from a csv file monthly? 

StadiumManager
3 Posts
User

After being assured that these posts are being read, it is clearly not the case. I have waited 2 weeks for a reply. A last update in July 2018 to this important development request is simply unacceptable.

There are a huge number of users on Essentials who are spending valuable time replicating Journals etc manually when a simple copy facility or import file could resolve this.

MYOB have made the decision for me - I will be going with Xero. Sadly for MYOB, the extent of lost customers is not over. My family and business colleagues are nearly all MYOB users and have been for many many years. They, like me, have been waiting patiently for a reply (or at least an update) to this post that has not been forthcoming. 

Good Luck to the remaining users who have requested this if you remian with MYOB.