Partner Zone

Share your ideas for improving the new AccountRight. Vote on ideas and discuss them with the MYOB product development team.

Product Ideas

Bank Feeds: Ability to select Use Recurring

Partner

3Posts

101Kudos

0Solutions

3 Posts
Partner
Australia

I think the Bank Feed feature is great but it has a big problem. When you go Find & Spend Money you can not select a RECURRING TRANSACTION. Therefore, you have to go out of Bank Feeds & Into Banking & Spend Money & process the transaction as we used to do it.

 

That means you still need to PRINT off your bank statements for data entry. I thought the idea of Bank Feeds is that you could do away with paper bank statements & process Recurring Transactions on the Bank Feed screen.

 

We are really not saving that much time with the Bank Feeds screen it would greatly improve productivity & stress if we could select Recurring Transactions in the Spend Money feature in Bank Feeds?

 

Furthermore it would mean no more paper bank statements?

 

Your feedback & votes would be appreciated as I am sure this affects all MYOB Users.

 

"Bank Feeds & Recurring Transactions"

Current Status: Open
Last Changed: December 2013

We can see this is a very popular idea and would be interested to see who else would find this idea useful. Please bear in mind that rules in bank feeds do already provide similar (though not exactly the same functionality). You can setup rules by clicking manage rules in the bank feeds screen. This allows the automatic creation of spend or receive money transactions based on pre-set criteria. However, based on comments on the thread linked below we understand that this won't suit all users as using rules doesn't give you an opportunity to adjust allocations. http://community.myob.com/t5/AccountRight-Idea-Exchange/Bank-Feeds-Recurring-Transactions-Not-Active/idi-p/213479 We would very much like to hear your thoughts on the existing rules feature in relation to this suggestion.

59 Comments
sadler
Contributing Cover User
7 Posts
Contributing Cover User

I agree that this feature would be excellent. For instance, I may have a monthly phone bill with a template which I have saved as a recurring transaction. I need to claim varying proprotions of the many components of this bill. i cannot simply match it to an existing expense.   For instance, if I did not work for 50% of that month, I need to adjust my tax deductible components for the mobile phone etc but perhaps not for other components.

remote_user
7 Posts
Cover User

When using Bank Feeds to enter transactions, why can't we select a recurring transaction to create the entry? Seems such a basic functionality that is missing...

IanChait
Ultimate Partner
1,420 Posts
Ultimate Partner

Hi @remote_user 

 

Create a rule, then you won't need a recurring transaction.

MTW
1 Post
User

Absolutely agree.  Rules in bank feeds do not replace recurring transactions entirely and it so cumbersome to continue to have to input data that would have been a quick entry using recurring transactions.  I think this is a big flaw in this program and I am very disappointed that this feature is not available.

ballens
5 Posts
User

It would be super if you could use "USE RECURRING" after selecting SPEND MONEY in the Bank Feeds Screen.

LRBooks61
Ultimate Cover User
1,054 Posts
Ultimate Cover User

Why not set up a bank rule if it is a recurring entry?

Lisa

ballens
5 Posts
User

Thanks Lisa. I have many rules setup, which are very handy.. .  But would like to use Recurring Transactions for one offs that I can change the amount and have a few Account Codes in the Template. 

WMack
Experienced User
120 Posts
Experienced User

Totally agree.  Seems weird to me that it isn't just a given.  I'm the same as you and have recurring transactions that can differ in amounts or accounts and it would be so helpful to have it.

LRBooks61
Ultimate Cover User
1,054 Posts
Ultimate Cover User

My only suggestion would be to set up your recurring transactions and record them

 

just match in bank feeds once recorded

 

not a solution, but a reasonable work around 

 

Lisa