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Do you need to complete this task?

When you purchase AccountRight online or register a POSA card, you’ll be able to set up bank feeds for your company file. So if you’ve already set up your bank feeds, you can skip this section (unless you want to set up additional feeds).

You can use the bank feeds feature to:

  • easily compare your bank account and credit card transactions with those recorded in AccountRight
  • automatically check for and match transactions that correlate with the bank feed information
  • pre-clear matched transactions to speed up your bank reconciliation.

To set up a bank feed, you’ll need to have:

  • internet access
  • your bank account or credit card details, exactly as they appear on your statement information.

 

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titleTo set up a bank feed
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    Start AccountRight.
  2. Go to the Banking command centre and click Bank Feeds. If:
    • this is your first bank feed, the Manage Bank Accounts window appears. Click Get Started with Bank Feeds.
    • you are already working with bank feeds, the Bank Feeds window appears. Click Manage Bank Accounts.
  3. When the Manage Bank Accounts window appears, click Add or remove a bank account. An internet browser window opens and the my.MYOB Log In page appears.
  4. Log in with your my.MYOB login details.
  5. Follow the onscreen instructions.

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    (Australia only) If you're setting up bank feeds for a Commonwealth Bank account and you use Netbank, you can select the option to complete your bank finish your bank feed application online (and skip steps 6 - 8 below).. If you choose this option, follow the onscreen instructions to complete the application. You'll also be sent an email to help with this process.

  6. On the Print the BankLink authority form page:
    1. Click Print Form. The BankLink authority form and cover sheet appear. A copy of the authority form is also sent to you by email.
    2. Print the form.
    3. Read the cover sheet and check your account details.
    4. Sign and witness the form and mail it to the address on the form.
  7. Click Done. The My Products page appears. This shows details about your AccountRight subscription and online services. The Bank Feeds section is updated with the details of the bank feed you have just applied for.
  8. If you want to:
    • apply for another bank feed, click Add more bank accounts or Add more credit cards and continue from step 5.
    • return to AccountRight, close the internet browser.

What next? To complete your bank feed setup, associate an account from the Accounts List.

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titleTo associate an account for a bank feed

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To complete setting up a bank feed, you need to associate an account from the Accounts List to it. This is the account that the bank feed will be compared to.

  1. Open AccountRight and go to the Banking command centre.
  2. Click Bank Feeds. The Bank Feeds window appears.
  3. Click Manage Bank Accounts. The Manage Bank Accounts window appears. This window shows the status of your bank feeds applications so you can follow their progress.
  4. Click Check/update status. The bank feeds Log In window appears.
  5. Enter your my.MYOB log in details and click OK.
  6. The Manage Bank Accounts window reappears. This window shows all the bank feeds you have set up and their status. This is where you associate a feed with an AccountRight account.
  7. Select an account from the list in the Associated Account column. This will be the account that the bank feed will be compared to:
  8. Click Use Account. The account is associated with the bank feed.
  9. Click OK. The Banking command centre reappears.

What happens next? We’ll notify you by email when your bank feed is ready, and you can also check the status by clicking Check/update status in the Manage Bank Accounts window. This may take a couple of weeks.

When your bank feed is ready, you’ll be able to download transactions into your company file. To start working with bank feeds, see Approving a bank feed.

Note that the first bank feed you receive will have transactions dated from when your bank feed was approved. Any transactions that occurred while you were waiting for the bank feed to be set up won’t be included. If you want to import and reconcile transactions dated before your feed approval date, you can use the Get Statement feature. To learn how to do this, see To reconcile by importing a bank statement

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