Australia only Why you should set up MYOB direct debit requestsIf you use Online Invoice Payments, you’ll find direct debit requests are another great way to enhance your invoicing workflow, giving you more time to focus on growing your business rather than spending time on administration. Direct debit requests are ideal for businesses that regularly invoice customers for the same amount, such as gyms, real estate agencies and childcare centres. When you set up direct debit requests in MYOB you can give your customers an easy way to pay you without having to manually enter invoices and payments. Having regular scheduled payments from your customers can also help with your cashflow planning. How it worksYou set up the details of the direct debit request, including the customer, the direct debit amount and the payment schedule. When you save these details, the direct debit request is emailed to the customer. Image Removed The customer then needs to click Setup payment, enter their banking details and authorise the request. You can set up your direct debit requests in MYOB by following the steps below. If you need more information, visit this website. Hands-free paymentsOnce a direct debit request is set up, everything is done automatically for you. The customer is automatically reminded when a payment is due, the invoice for each payment is automatically created in MYOB and it's automatically closed off when the customer pays it. And, if you've got bank feeds set up on the account the payments go into, those payments are automatically reconciled for you. UI Expand |
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title | Create a direct debit request |
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| Create a direct debit request- Go to the Sales menu and choose Direct debit requests.
- On the MYOB direct debit tab, if prompted:
- enter your business's ABN and the details of bank account you want your customer to deposit funds into
- if you use bank feeds, choose an account in MYOB to match these payments to.
- Acknowledge that you've read the terms and conditions and click Enable direct debits.
- Click Create direct debit request.
- Enter a name for the direct debit plan.
- Choose a Customer.
- Change the email address if you want.
- To set when the customer pays you, choose the Payment schedule. You can set up a direct debit to be paid:
- weekly
- fortnightly
- monthly
- quarterly
- every 6 months
- annually.
- Choose the First payment date.
- If you want to set an end date for the payments:
- Choose End date in the Direct debit expiry field
- Choose the Last Payment date.
- Enter a Description of the direct debit request.
- Select whether the amounts will be Tax inclusive or Tax exclusive.
- Complete the details of the transaction:
- Choose the Account the income from this direct debit will be allocated to. If you're not sure, check with your accounting advisor.
- Enter the Amount to be debited each time according to the payment schedule.
- If required, change the Tax code. If you're not sure, check with your accounting advisor.
- Click Send and save to email the direct debit request to the customer.
What happens nextThe customer you chose for the direct debit request receives an email of the request with the direct debit amount and payment schedule. If the customer agrees to the direct debit request, they need to click Setup payment. They are then prompted to enter their banking details. You can view the direct debit request on the MYOB direct debit tab (go to the Sales menu > Direct debit requests). It will have a Status of Pending authorisation. When the customer authorises the debit plan, the Status of the plan will change to Active. |
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