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Customer payments made via MYOB PAYBY marking off invoice as paid but not matching the bank feed deposit

Wilhelm101
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Re: Customer payments made via MYOB PAYBY marking off invoice as paid but not matching the bank feed deposit

Thanks I've switched software as it was tax time and I waited on hold for 3 hours to talk to someone about it at the time - was quicker to move to a different product. I could not find a solution other than to switch off auto match. This should be disabled by default if its going to introduce errors I had to spend two days manually reconciling to figure out what was going on.

Wilhelm101
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Re: Customer payments made via MYOB PAYBY marking off invoice as paid but not matching the bank feed deposit

I wish I realised the setting could be switched off. I just changed software after not being able to get through to myob on the phone. Had a hard deadline with my accountant. Problem with mine was only when the deposit figure differed from the invoice amount. It wouldnt be an issue if it just didnt match. But matching to the invoice figure AND registering the real transaction took me hours to figure out what was going on as a new user. 

Alice_MYOB
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Re: Customer payments made via MYOB PAYBY marking off invoice as paid but not matching the bank feed deposit

Hi @BRIGITTE, based on @easyfix's comment below, can I ask you to check the account you've slected for the "Ledger account to record payments" setting? See screenshot below.

The reason I ask is because if you have set this account to be Undeposited Funds, this actually breaks the auto-matching: for AccountRight products, funds paid via Online Invoice Payments are temporarily recorded in the Undeposited Funds account while we await for the funds to be disbursed (usually a day after the payment was made).

Once disbursed, the payments are automatically processed out of Undeposited Funds to the account selected in the Online Invoice Payment setting mentioned above (the "Ledger account to record payments"). Then when your bankfeeds come in (or you upload a bank file) they are automatically found and matched.

But if you set the account to record payments to be Undeposited Funds, the funds are cleared back to Undeposited Funds, and the bankfeeds account will not see anything to match to. This is why @easyfix's recommendation is the right one in this scenario, as it allows the flow to function as intended.

We understand this is not as clear as it could be based on this thread and have taken an action to update the information on our help page and make these implications clearer in product.


OIP Settings Ledger Account.png

 

ccho
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Re: Customer payments made via MYOB PAYBY marking off invoice as paid but not matching the bank feed deposit

I have discovered a simular problem, on 3 occassions since May Invoices have been auto marked paid through MYOB PAYBY (twice- as in 2 invoices of the same amount marked as paid) both using the same MYOB payment reference number, I only recieve 1 remittance and 1 payment to my bank account. End of Year reconcilliaton has uncovered the unmatched payments. These customers havnt been chased for payment as a result, I feel I can hardly return these invoices to my debtors list???? 

 

Wilhelm101
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Re: Customer payments made via MYOB PAYBY marking off invoice as paid but not matching the bank feed deposit

I would disable the auto match feature. it's negligent that MYOB has this function enabled by default. I've left the software platform because it's not worth the risk

ccho
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Re: Customer payments made via MYOB PAYBY marking off invoice as paid but not matching the bank feed deposit

I have been trying to disable the auto matching feature but I cannot find where to do that? Any tips?

 

Aside from that, my big issue is the matching from the online payments provided by myob as an added service, credit card payments collected by myob and then paid to our account, there are 3 invoices marked as paid and myob havn't paid us, and I'm almost certain they are not actual payments because the reference number is duplicated on another payment. I hesitate to delete, I will probably need to enter them as bad debts now.

Earl_HD
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Re: Customer payments made via MYOB PAYBY marking off invoice as paid but not matching the bank f...

Hi @ccho,

Thanks for reaching out. You can set up MYOB Essentials/Business to automatically match your invoice payments to your bank feeds, so you wouldn't need to go through and try to work out which payment was from which customer. 

 

To set this up:

  • Select an account in MYOB to record Online Invoice Payments:
    Click on your Business name > Sales settings > Payments > In Online Invoice Payments Settings, click Edit preferences > Select the Account to record online invoice payments against > Save.
  • Set the Bankfeeds to Automatically match a transaction if there's an exact match available. Click on Banking > Bank Rules > Tick - Automatically match bank transactions to MYOB bills and invoices

Now next time a customer makes a payment, the system will automatically match it against the correct invoices.

Feel free to post again, we're happy to help.
Regards,
Earl

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