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When working with bank feeds, if a transaction hasn't been entered into MYOB that matches a bank transaction, you can allocate the bank transaction directly to one or more of your MYOB accounts. This means you won't have to waste time manually recording a transaction.

If you need to, you can split a bank transaction between accounts, or select multiple transactions and allocate them to the same account.

If you've already entered a corresponding transaction in MYOB, you should match the bank transaction instead. See Matching bank transactions.

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Regularly make the same payments? You can set up rules to automatically allocate these to your MYOB accounts, saving you from manual data entry.

Allocating transactions

If a transaction on the bank feed hasn’t been entered in MYOB, you can allocate it to your MYOB accounts.

If you're not sure which accounts to allocate transactions to, consult your bookkeeper or accountant.

When you allocate a bank transaction, a matching transaction is created in MYOB. For example, if you allocate a withdrawal, a spend money transaction is created. If you allocate a deposit, a receive money transaction is created.

Take a look at these allocating scenarios:

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titleTo allocate a transaction to a single account
  1. On Bank transactions page (Banking > Bank transactions) click the Allocate me link in the Match or allocate column.
  2. Choose the account to allocate the transaction to.
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titleTo allocate a transaction to more than one account
  1. On Bank transactions page (Banking > Bank transactions) click the dropdown arrow for the transaction to be allocated.
  2. Choose the accounts to allocate the transaction to, and specify the amount or percentage being allocated to each.

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    There's some handy features that can help you allocate transactions faster.

    To split amounts without having to do any calculations, simply click in the Amount ($) field and hit = on your keyboard. The remaining allocated amount and amount percentage appears:

    There's also a built-in calculator in the Amount ($) and Amount (%) fields. Just enter a calculation in the field and tab out of it:

  3. If needed, enter a Line description, Job (find out more about Jobs) or change the Tax codes for the chosen accounts.
  4. Click Save. The allocated transaction will now show Split across accounts.
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titleTo allocate multiple transactions to the same account
  1. On Bank transactions page (Banking > Bank transactions) select the transactions to be allocated.
  2. Click Allocate.
  3. Choose the Account and Tax code, then click Allocate.
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Add a new account on-the-fly

If you need to create a new account to allocate to, click Create account from the Account dropdown list when you're allocating the transaction.

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titleTo unallocate a transaction

To unallocate a transaction

  1. On Bank transactions page (Banking > Bank transactions) click the dropdown arrow for the transaction to be allocated..
  2. Click Unmatch.
  3. Click Unmatch again in the message that appears. The spend money or receive money transaction that was automatically created is now deleted and you can now allocate the bank transaction again.
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You can unallocate multiple transactions. Select each transaction and click Unallocate:

Keyboard shortcuts

There's a range of keyboard shortcuts available on the Bank transactions page to help make allocating transactions faster.

To reveal these shortcuts, press CTRL and / (PC) or CMD and / (Mac) simultaneously.

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You can see if there are transactions to be allocated to your bank feeds accounts, and you can click to action them, right from the MYOB Business Dashboard. See The Dashboard.

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<h2><i class="fa fa-comments"></i>&nbsp;&nbsp;FAQs</h2><br>
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titleHow do I allocate a $0 transaction?

How do I allocate a $0 transaction?

If you need to allocate an account to a $0 transaction, click on the dropdown arrow to the right of the transaction. Enter 100% in the Amount % field and enter any additional information.

When you’re done, click Save.

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titleWhy am I getting the error 'An unbalanced transaction may not be recorded' when it does balance?

Why am I getting the error 'An unbalanced transaction may not be recorded' when it does balance?

This is a bug and our experts are looking into it.

Until we fix it, you'll need to manually record a receive money or spend money transaction for the money you've paid or received, then match the bank feed amount to that transaction.

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titleHow do I change an allocation?

How do I change the account a transaction has been allocated to?

  1. Go to the Banking menu and choose Bank transactions.
  2. In the Status field, choose Allocated.
  3. If required, specify a date range.
  4. Click the dropdown arrow for the allocated transaction.
  5. On the Allocate tab, change the allocation as required.
  6. Click Save.
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When you change an allocation this way, the spend money or receive money transaction that was automatically created for this allocation will also be updated.

If you click Unmatch and allocate the transaction differently, a new spend money or receive money transaction will be created and the old transaction is automatically deleted.

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titleHow do I change an allocated transaction to a matched transaction?

How do I change an allocated transaction to a matched transaction?

  1. Go to the Banking menu and choose Bank transactions.
  2. In the Status field, choose Allocated.
  3. If required, specify a date range to find the allocated transaction.
  4. Click the dropdown arrow for the allocated transaction.
  5. On the Match transaction tab:
    1. Find and select the transaction you want to match. Need help with matching?
    2. Deselect the original allocation. The spend money or receive money transaction that was automatically created when the bank transaction was allocated is now deleted.
  6. Back on the Bank transactions page, click Save.
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titleWhy can't I see unallocated transactions?

Why can't I see unallocated transactions?

Make sure you set the Status on the Bank transactions page to Unallocated.

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titleCan I attach documents to a bank transaction?

Can I attach documents to a bank transaction?

Yes, you sure can. Here's how: 

  1. From the Banking menu, choose Bank transactions.
  2. Click the down arrow next to the transaction you want to attach a document to.
  3. Attach the document. There's a couple of ways to do it:

    • Click browse for files, select the document to be attached then click Open.
    • Click and drag a file from your computer and drop it into the transaction.

The document is attached to the transaction. For more details, see Attaching documents to bank transactions and Attaching documents to spend money transactions.

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titleHow do I resolve ' An unrecognised error occurred - PAPI_ModelBindingError'?

How do I resolve ' An unrecognised error occurred - PAPI_ModelBindingError'?

You could receive this error when trying to allocate transactions or when you click Reconcile on the Bank transactions page.

There could be a number of causes for this error. To resolve it, check:

  • if you've linked an MYOB account to your bank feed (go to the Banking menu > Manage bank feeds and check that an account has been chosen in the Linked account column).
  • if you've imported transactions from bank feeds and a bank statement, causing duplication of transactions. If so, delete the imported bank statement and download a new bank statement from your bank, ensuring the date range doesn't include transactions already in MYOB. Import the new statement and try allocating transactions again.

Some users have been able to resolve this error by undoing a previous reconciliation.

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titleCan I delete bank feed transactions?

Can I delete bank feed transactions?

We recommend contacting product support to discuss your options.

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titleRelated topics
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Bank feeds

Matching bank transactions

Matching bank transactions to grouped electronic payments

Working with bank transactions

Managing your bank feeds