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July 2019
July 2019
Hi There
I am a new user to MYOB Essentials with Payroll and I have managed to set up 2 bank feeds for myob with BOQ. However MYOB is not able to establish a bank feed service for my BOQ Credit Card.
I did read that if i can download a statement from the credit card in a .QIF file format that i could then import it to myob,
With that in mind, I have been onto our internet banking and BOQ only shows that i can download statements from banks accounts but not the credit card. Interesting. Does anyone know if this is standard or just BOQ not up to the current technology?
If i am unable to download a statement from the credit card to import into MYOB what are my other options? Would I be back to imputting each transaction fully just like in the earlier versions of MYOB.
Has anyone else had this problem? If so, how were you able to get around it?
Any help or suggestions would be greatly appreciated.
Thank you
TLB 2019
Solved! Go to Solution.
July 2019
July 2019
Hi @TLB2019
Generally speaking, the bank determines which types of accounts they can provide bank feeds for, and the feeds frequency. They also determine whether they can provide detailed bank statement for the account or not.
In Essentials Accounting, there are two ways to reconcile accounts. It's either via Bank Transactions (bank feeds or imported bank statements), or Bank Reconciliations (with paper bank statements). Please find out more information from this Help article: Reconcile transactions.
This means without bank feeds, you can enter all transactions in Essentials Accounting. But when it comes to bank reconciliation, if the bank cannot show detailed transaction history on the account, it'll be very difficult to reconcile. I'd suggest checking with your bank if they have any other types of credit card that they can provide statements for, then switch to that.
Kind regards,
Clover
MYOB Community Support
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