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Anil7852's avatar
Anil7852
Contributing User
9 months ago
Solved

Bank Feed + Bank Reconcillation

Hi  Team, 

 

MYOB AccountRight-Need help for Bank feed and reconciliation.

 

Here is my query.

How can I reconcile if I made a single payment for multiple suppliers? 

 

For example, 

Total Bill paid is : $50,000.00

But 

This bill is for three suppliers; 

Supplier A-$25,000.00

Supplier B-$10,000.00

Supplier C: $15,000.00

 

In this situation, how can I allocate them in a single payment of $50,000.00? 

 

 

Please give me a suggestion in this regard. I am not able to pick the respective bills when I try to reconcile.

 

Thank you very much in advance.

 

Any tutorials you can suggest to me, please?

 

 

  • Genreve_S's avatar
    Genreve_S
    9 months ago

    Hi obododan, 

     

    Thanks for the response and thank you for repeating the concern. 

     

    I'm sorry if I confused you in my previous reply. The electronic payment process will still apply to this, as we are just trying to match one bank feed transaction to 3 different payment transactions in the file. We are simply passing individual payments to the clearing account and moving as a bulk transaction to the bank account of choice. 

     

    The process is as follows.

    1. Record all three purchase bill payments making sure that instead of choosing the bank account mark the electronic payment button.
    2. Open Banking > Prepare electronic payments window.
    3. Choose the bank account and date of the bulk transaction. 
    4. Mark all three transactions that make up the bulk transaction.
    5. Make sure that the Total Payment amount equates to the bank feed transaction amount.
    6. Click the Bank File button.

    If this is followed correctly, the electronic payment will automatically match with the bank feed (given they have the same date and amount). 

     

    Let us know if you require any further assistance. 

     

    Cheers, 
    Genreve

     

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  • Genreve_S's avatar
    Genreve_S
    MYOB Moderator
    9 months ago

    Hi Anil7852, 


    Thanks for posting and welcome to the Community Forum. 

     

    I understand that there are instances in which we need to match 3 payments to one invoice. In these cases, we generally record the payments to an electronic clearing account first and move them to the bank feed account following this. Here is the help article Making electronic payments directly, this is a step-by-step guide to the process. 

     

    Let us know if you require any further assistance with this. We're happy to help. 

     

    Cheers, 

    Genreve

    • obododan's avatar
      obododan
      User
      9 months ago

      Dear,  Genreve_S 

      Thanks for your reply.

      However,

      My scenario is: -My senior already paid three invoices in a single payment and now it appears in the Bank feed. Now I have to allocate three invoices to that amount.

       

      I need to match three invoices from different suppliers for a single payment.

      if you can advise me MYOB steps, that would be really helpful.

       

      Thanks again.

    • Genreve_S's avatar
      Genreve_S
      MYOB Moderator
      9 months ago

      Hi obododan, 

       

      Thanks for the response and thank you for repeating the concern. 

       

      I'm sorry if I confused you in my previous reply. The electronic payment process will still apply to this, as we are just trying to match one bank feed transaction to 3 different payment transactions in the file. We are simply passing individual payments to the clearing account and moving as a bulk transaction to the bank account of choice. 

       

      The process is as follows.

      1. Record all three purchase bill payments making sure that instead of choosing the bank account mark the electronic payment button.
      2. Open Banking > Prepare electronic payments window.
      3. Choose the bank account and date of the bulk transaction. 
      4. Mark all three transactions that make up the bulk transaction.
      5. Make sure that the Total Payment amount equates to the bank feed transaction amount.
      6. Click the Bank File button.

      If this is followed correctly, the electronic payment will automatically match with the bank feed (given they have the same date and amount). 

       

      Let us know if you require any further assistance. 

       

      Cheers, 
      Genreve

       

      • Anil7852's avatar
        Anil7852
        Contributing User
        8 months ago

        Hi Genreve_S 

        Thanks for your reply, very helpful.

         

        However, my problem has not been solved.

         

        again here, 

         

        Payemts has been made as follow

        Each amount given below is the sum of different bills within in single supplier.

        Supplier name : 001 ,002, 003..........010 )

         Capture.JPG

        (Above single amount, for example: $1886.50 , this amount is the sum of three different bills for a single supplier.

         

         

        This will be a total of $49191.59.

        This amount is already paid so it now appears in Bank feed.

         

        Capture 2.JPG

         

        This is how it now appears.

        Now i have allocate this amount to the different invoices of different suppliers.

         

        If I go to NEW-PAY BILL I am not able to select different invoices.

         

         

         

        Capture3.JPG

         

         

         

        I can not do SPEND MONEY cause i would like to make the invoices as paid( Not manually) 

         

        Not sure how this payment was done (ABA file or not) 

        I can not to anything by clicking on FIND .

         

        Please help me again how can i  approve them, i have been struggling for a few weeks. 

         

        Providing any support team phone number will be highly appreciated.