MelbChauffeur
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Re: Undeposited funds account
Thank you for your reply Doreen. Creating a 'transfer money' journal entry is the easy part. The problem is that the funds from the invoice payment have not been deposited to our bank account by MYOB. A transfer from undeposited funds account to the bank account will result in the bank account being higher than the expected amount because these funds haven't been deposited in the actual bank account..195Views0likes1CommentUndeposited funds account
Hi folks, we have a customer online invoice that was paid on 28/3/24 . The invoice was automatically closed off by MYOB with a 'received money' showing it was paid. The full amount was then added to Undeposited Funds Account but no transfer has been made for this amount to our bank account. We checked through our online banking portal and in bank feeds but it still hasn't been transferred from MYOB.. can anyone help?242Views0likes3Comments