Using Bank feeds

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Komal_S
MYOB Moderator
4,883 Posts
MYOB Moderator
MYOB Moderator

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Using Bank feeds

Hi Everyone

 

Automatic bank feeds can be used for a variety of purposes in the day to day processing, some of them being easy transaction entry, getting updated banking information, and most commonly as a tool for reconciliation

 

Once you have set up your Bank feeds these transactions will flow through to your MYOB Software available for you to action that transaction. There are two main actions that can be taken with a bank feed transaction; Match or Allocate

 

Match is when you have already recorded the bank transaction in your MYOB Software and you are looking at matching that bank transaction to that transaction.

 

Click on the Find option next to the associated transaction, enter the desired search criteria if required, choose the already recorded transaction, and then select Match & approve

Attachment2.PNG

 

The following links can be referred to understand the process:

How matching works 

Approving a bank feed

Matching a bank feed to multiple transactions

 

 

 

Select the drop arrow to the right of the transaction, selecting Match transaction, and choose the desired transaction(s) before selecting Save.

Attachment.PNG

 

For more information on matching check out the following Help Articles and Forum posts:

Matching bank transactions 

Matching multiple bank transactions to one payroll transaction. 

 

Allocate is used when you have yet to record that transaction in MYOB Software.

 

In the Bank Feeds window, select an unmatched bank feed transaction, click New and select the type of transaction you want to create, then match & approve.


 

Click on Allocate Me and select the account against which you want to record the withdrawal or deposit. 

 

allocate me.JPG

 

 

 Allocating bank transactions explains this in detail.

 

 

Can't find the answer to your question here? Take a look at Bank Feed FAQ's Alternatively, do please start a new post. Our team of MYOB Support Moderators and the MYOB Community is always happy to help.

Kind regards,
Komal

MYOB Community Support

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