Online Payments Automatically closing but applied to the wrong account

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Online Payments Automatically closing but applied to the wrong account

Hi I have just moved to the online Accountright 2019 and with the PayNow button, invoices are being automatically closed off by MYOB. This would be a good feature if it weren't for 2 issues that I am having. Firstly MYOB is applying the payment to the wrong account code and I can't find how to change this and secondly if more than one payment is made on the same day then I seem to be unable to reconcile this in bank feeds if the payments are made by different customers. Having already spent 2 hours on the phone to MYOB today and being told that MYOB does not close invoices off I am at a loss so any help would be appreciated.
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Re: Online Payments Automatically closing but applied to the wrong account

Hi @Davedog 

 

When an online payment is made in AccountRight that particular invoice is closed and the system will generate the necessary Recieve Payment transaction. This particular transaction will go to the Prepare Bank Deposit window/undeposited funds account. The reason for that is that when the money is deposited into the bank overnight MYOB does a combined amount for all the payments made during that day. As a result to match it to a bank feed transaction you need to have the one transaction in the Bank Account, thus you would prepare the bank deposit with the necessary transactions. 

From a bank feed transaction point of view, this transaction is not auto-matched and the user would need to go to Find and find that Bank Deposit transaction to match with the bank transaction. 

 

Our Help Article: Online Payments does go through handling the payment in your company file.

 

Do let us know if you require further assistance in regards to that process.

Kind regards,
Steven

MYOB Community Support

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Re: Online Payments Automatically closing but applied to the wrong account

Hi Steven

 

thank you for your response. The primary issue is that the invoice is being closed with the funds allocated to the wrong account. All our payments should be going into the cheque account whilst these payments are going to another account on my system, an account used for foreign currency. How do I stop this happening. They are not going to an undeposited funds account, nor do they appear in the Prepare Bank Deposit screen.

Thank you

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Re: Online Payments Automatically closing but applied to the wrong account

Hi @Davedog 

 

What is the account that you have selected in Setup>>Linked Accounts>>Accounts and Banking - Bank for undeposited funds? Is that the same account that those online payments transactions are flowing through to?

Kind regards,
Steven

MYOB Community Support

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Re: Online Payments Automatically closing but applied to the wrong account

YES!!! Thank you. This was set up when we used MYOB for international payments. It's not an issue to change this now but would become an issue if I wanted to do so again in the future.

 

It's a pity that I couldn't get this information through phone calls or Live Chat but I do appreciate your help now and I have checked and it is all working smoothly now.

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