The Bank transactions page lists the bank and credit card transactions that have been brought into LiveAccountsMYOB Essentials. If you haven’t set up a bank feed or imported a bank statement, this page won’t show any transactions. See Bank feeds and Import bank and credit card statements.
For each bank or credit card transaction on this page, you need to either:
- match it to an existing LiveAccounts MYOB Essentials transaction (or bank transfer)
or - allocate it to one of your LiveAccounts MYOB Essentials accounts.
What to look for
When you allocate or match a transaction, you’re identifying whether or not it has been entered in LiveAccountsMYOB Essentials. You should check for:
- Transactions already entered in LiveAccountsMYOB Essentials (eg. invoices and expenses, or payments like Spend Money and Receive Money transactions). You should match these bank transactions to the corresponding MYOB Essentials transaction.
- Transactions not entered in LiveAccountsMYOB Essentials (eg. bank charges, bank interest, cash withdrawals or deposits). You should allocate these bank transactions to the appropriate LiveAccounts MYOB Essentials account.
If you have regularly occurring bank transactions that always have a particular description (such as a transaction containing the text BANK INTEREST), you can set up rules to manage them. The next time these transactions are received or imported, LiveAccounts MYOB Essentials will allocate them automatically to an account you choose. For more details, see Using allocation rules. - Transfers between bank accounts. If you’ve transferred money between two of your bank accounts, MYOB Essentials can match the two bank transactions, even if you haven’t entered a bank transfer transaction into MYOB Essentials. You should confirm that this match is correct. See Matching transfers between your bank accounts.
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| Allocate or Match status | Description | What you need to do |
|---|---|---|
| Allocate me
| The transaction needs to be allocated or matched. | If you’ve already entered this transaction into LiveAccountsMYOB Essentials, match the bank transaction to the MYOB Essentials transaction. See Matching bank transactions. If you haven’t entered it, allocate it to one of your LiveAccounts MYOB Essentials accounts. See Allocating bank transactions. If the transaction is a transfer between two of your bank accounts, identify the other transfer transaction, or enter the transfer manually. See Matching transfers between your bank accounts. |
| <Account name> and tick
| The transaction has been automatically allocated to a LiveAccounts an MYOB Essentials account, based on your allocation rules. | Check that this allocation is correct, or allocate the transaction yourself. See Allocating bank transactions. |
| <Transaction details> and tick
| The transaction has been automatically matched to a LiveAccounts MYOB Essentials transaction or bank transfer, based on the transaction amount and date. | Check that this match is correct, or allocate the transaction yourself. See Matching bank transactions. |
| <X> matches available
| The transaction has more than one possible match in LiveAccountsMYOB Essentials. | Choose which MYOB Essentials transaction (invoice, expense, transfer or other payment) the bank transaction should be matched to, or allocate the transaction to an MYOB Essentials account. See Matching bank transactions. |
| Note | ||||
|---|---|---|---|---|
| ||||
| Make sure you’ve entered backdated invoices or expenses into LiveAccounts MYOB Essentials for any transactions that occurred before you began using LiveAccountsMYOB Essentials. Note that these backdated entries will change your bank balance, but won’t affect the opening balances of your accounts. If you need help with this task, consult an accounting advisor (such as your accountant). |
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