EOFY for 22/23
I am not getting any thing like what i paid my employee for this period it only shows some overtime that he was paid? and not the full amount of the group cert. I have check with our accountant and she was not able to come up with a solution for me, she did try a couple of things that do not appear to have worked. As our employee has already submited his tax to be done by her she has requested that I do the eofy finalization this is when I found it did not work correctly. When I run the eofy all I'm getting is the overtime amount of $331.32 not his gross payment of $38,411.72. So what is going on, does anyone have a solution to my issue?Solved243Views0likes2CommentsAllocating a GST refund
Hi, I am new to MYOB. I have just done our BAS online via MYOB and was entitled to a GST refund. The refund has been processed and had shown up in my bank feeds but I am at a loss as to how to allocate this amount. I have read all the solutions I could find on here but none of them seem relivent - I am using MYOB Business online. All the solutions I have read look to be referencing older versions of MYOB and mention a "GST Paid" account and a "GST Payable" account. The version I have only has Liability account "GST Balance"? Any help would be appreciated.891Views0likes3CommentsMatch Bill to Bank Transaction - Statement Text Error
I have created a bill and made a payment to the supplier. The payment appears on my bank feed and when I match the transactions I can find the bill and it balances to the cent. However, when I hit save I get an error message saying "You have indicated that the transaction is to be paid electronically. All electronic payments must contain Statement Text." I don't pay electronically out of myob and don't know why the program thinks I am doing this. I have tried to put information in statement text on the contact (not sure what information it needs as the bank transaction description is longer than the statement text box will accept). How can I stop this error and match the billl and bank transaction?Solved798Views1like4CommentsPurchase invoices, quotes and orders
Hi everyone AccountRight and MYOB Essentials allows users to record and track your company's purchases (in a quote, order or bill format) while also making payment and reporting on them. This is done through the Purchase module within your Software. We've got a varietyof help articles on this subject but a good place to start isAccountRight: PurchasesorEssentials: Purchases More detailed topics include: AccountRight: - Purchases register window Pay bills Supplier prepayments Supplier returns, debits and refunds Dealing with a supplier who is also a customer Essentials:- Bills reports Supplier payments Supplier overpayments Supplier returns, debits and refunds Dealing with a supplier who is also a customer You might also like to take advantage of our free training courses available atMYOB Academy As always, if you do need help please start a new post. Our team of MYOB technical support staff and the generous MYOB Community is always happy to help.3.3KViews0likes0CommentsBank Reconciliations
Hi Everyone Reconciling your bank accounts is one of the most important bookkeeping tasks.Depending on the business it can be done daily, weekly, monthly or quarterly. What is a bank reconciliationand why is it important? A bank reconciliationis the process of matching the transactions in your accounting software with the actual transactions in your bank account. It allows you to check that all bank transactions have been entered into your software, ensuring your financial reports are an accurate reflection of your business. It also helps find data entry/payment errors that need to be corrected and verifies your cash flow. How do I reconcile my accounts? Depending on your software and whether you use bank feeds there are different procedures for reconciling your bank accounts. But the end result will always be the same, the Closing balance on your bank statement will match the Calculated balance in your software. You can find step-by-step instructionsfor your software in these help articles: AccountRight | Essentials What if my account doesn't reconcile? If your account doesn't reconcile you need to find what is causing the out of balance and make the necessary changes. Some of the common causes for an out of balance amount are: the wrong date has been entered the wrong balance on your statement has been entered not all bank transactions have been recorded in your software a transaction is selected that doesn't appear on the bank statement a transaction amount has been recorded incorrectly, eg, $217.50 instead of $271.50 a previously reconciledtransaction has been deleted or changed in your software causing it to become unreconciled To help you find the cause and correct any errors our help articles have detailed information on reconcilingyour bank accounts: AccountRight: Resolving out of balance bank reconciliations Essentials: Reconciling with a paper bank statement We hope you find this useful. As always, if you do need help please start a new post. Our team of MYOB technical support staff and the generous MYOB Community is always happy to help.4KViews2likes0CommentsUsing 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 Matchis 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 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. 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. Allocateis used when you have yet to record that transaction in MYOB Software. In the Bank Feeds window, select an unmatched bank feed transaction, clickNewandselect the type of transaction you want to create, then match & approve. Click onAllocate Meand select the account against which you want to record the withdrawal or deposit. Allocating bank transactionsexplains this in detail. Can't find the answer to your question here? Take a look atBank Feed FAQ'sAlternatively, do please start a new post. Our team of MYOB Support Moderators and the MYOB Community is always happy to help.2.5KViews0likes0CommentsSetting up bank feeds
Hi everyone, Bank feeds allow information from your financial institution to be sent straight to your accounting software so you can save time on your data entry and aid in the reconciliation process. Feeds are available for a wide range of financial institutions and account types, check outAustralia | New Zealand for a full range of financial institutions. In order to set up bank feeds in AccountRight, you need: to be theonline owner(usually the person who set up your AccountRight subscription) yourMYOB account login details the details of the bank or credit card account you're setting up for bank feeds have an active AccountRight subscription (per company file) Note: Your AccountRight online file does not need to be online to set up or use bank feeds, but you’ll need an internet connection. Bank feeds can be applied for using Banking>>Bank Feeds>>Manage Bank Accounts>> Get Started with Bank Feeds (or Add or remove a bank account). You will be prompted to enter your my.MYOB account details to apply for those feeds. Once you are logged in, you do need to follow the on-screen prompts. Check out Help Article:Set up bank feeds for AccountRight for full detailed instructions on setting feeds up for your financial institute. Bank feeds can be applied for using Banking>>Manage Bank Feeds>>Add bank feed. Help Article:Set up bank feeds for Essentials for full detailed instructions on setting those up. Note: While any user can apply for those feeds in MYOB Essentials, thesignatory on the nominated bank account should be the user does apply. We hope you find this useful. As always, if you do need help please start a new post. Our team of MYOB Support Moderators and the MYOB Community is always happy to help.3.9KViews0likes0Comments2020 Tax - Rental schedule
When there is a rental property shared between 2 individuals, and each of them is paying different amount of loan interests, say husband pays 5k and wife pays 6k, in order to correctly capture this expense for each of them respectively, we need to enter the gross loan interests in husband's schedule as 10k and wife's as 12k. By doing this will give us the correct net rent for each of them but the total rental expenses may not be accurate, as the total loan interests should be 11k not 10k or 12k. We understand this should not affect reporting end results but we think it would be nicer to have the old rental schedule where you can have another column to put such expenses rather than only the option of putting gross amounts. Thanks.Solved