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Using a bank file

Currently only available to BETA customers

Australia only

available in online company files only

streamlined payment process, straight from AccountRight

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Direct payments

Pay directly from AccountRight (2020.2 and later, selected customers only - see note below).

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What's the difference?

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If you want to pay straight into your suppliers' and employees' bank accounts , there are two ways you can do it:

pay directly from AccountRight (2019.3 BETA customers only)

create a bank file

use a bank file, or pay them directly.

Using a bank file

Create a bank file from AccountRight then upload it to your bank for processing.

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The new direct payments service is currently in BETA (it's not quite ready yet), so it's only available to selected BETA customers.

Here's a comparison:

Direct payments (BETA)

Using a bank file	Direct payments
available in Australia and New Zealand both online and desktop company files included with AccountRight (bank fees may apply) internet banking required	available to selected Australian customers (see note below) online company files only MYOB fees apply (see FAQs below) internet banking not required streamlined payment process less data entry = fewer mistakes! no need to use internet banking secure payments additional security full payment audit trail fees apply (see FAQs below)	Australia or New Zealand available in both online and desktop company files requires internet banking included with an AccountRight subscription

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If you've already been using bank files for electronic payments, it's easy to switch to direct payments (BETA customers only)Direct payments availability

This feature is being launched in Australia throughout June & July 2020 and we'll be making it available for one group of accounts at a time. Until early July, only businesses registered as Sole Traders with the Australian Business Registry will be able to apply. From early July onwards, both Sole Traders and Companies will be eligible to apply.

Setting up electronic payments

Before you can make electronic payments using your chosen method, you'll need to set up a few things. See these topics for all the details:Setting up AccountRight for direct electronic payments (BETA customers only)

electronic

for direct payments

for bank files

Making payments

There are a few ways to identify that a payment you're making is to be paid electronically:

When you record a Spend Money or Pay Bills transaction, select the Electronic Payment option.
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When you record a Pay Liabilities transaction, select the Group with Electronic Payments option.
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If you've set up your employees to be paid electronically, when you process their pays they'll be identified as electronic payments.

Recorded electronic payments are grouped on the Prepare Electronic Payments window, ready for processing.

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For all the details on processing your electronic payments, see these topics:

Making electronic payments directly (BETA customers only)

Making electronic payments with a bank fileOnce you've set up electronic payments, you're ready to start making payments using your chosen method.

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title	What are the fees for using direct payments?

What are the fees for using direct payments?

The fees per use are:

Debit card (Mastercard only)

0.1% of the total payment value
Example: if paying $10,000, the fee is $10

Credit card (Visa or Mastercard)

1.5% of the total payment value
Example: if paying $10,000, the fee is $150

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Set Setting up electronic payments for bank files

Setting up AccountRight for direct electronic payments

Making electronic payments with a bank file

Making electronic payments directly

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Versions Compared

Old Version 101

New Version 116

Key

Direct payments

What's the difference?

Using a bank file

Setting up electronic payments

Making payments

What are the fees for using direct payments?

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