Bank feeds allow you to automatically import your client’s bank transactions into MYOB Essentials Cashbook, securely and directly from your bank. This means you don’t have to manually enter or import bank transactions into MYOB Essentials Cashbook, saving you time.
In most cases, MYOB Essentials Cashbook will automatically receive the transactions from your bank after each working day, though some banks send the data weekly or monthly.
It’s best to create an MYOB Essentials bank account for each of your real-world bank accounts, so that you can take advantage of bank feeds. Bank accounts could include any business accounts with banks, credit unions and other financial institutions.
Does your bank support bank feeds?
To see which banks support bank feeds, or to confirm that your bank provides information daily (as some banks only do so monthly), take a look at the list of banks that work with MYOB Essentials: Australia | New Zealand (PDF viewer required).
You can set up a bank feed for any bank or credit card account, as long as you’ve already created a corresponding account for it in MYOB Essentials Cashbook.