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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 need to be the online owner. This is typically the person who set up your AccountRight subscription. You'll also need:

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

How long does it take to get a bank feed going? If you bank allows you to complete the application via your online banking site, you could be up and running within 24 hours. Otherwise, you need to allow up to ten business days for your bank to process your request.

Complete the steps below to set up your first, or a subsequent, bank feed.

 

1. Set up a bank feed
  1. 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
  4. An internet browser window opens and the my.MYOB Log In page appears. Log in with your my.MYOB login details.

  5. Select your financial institution and enter your bank account details.

    Completing the application via your online banking site
    Some banks provide the option to continue the bank feed application via their online banking site. If you choose this option, you'll be provided an 8-digit code and directed to log into your banking site to complete the application when you click Submit. Refer to the table below for details.
    If you're not completing this step online, continue to step 5 to print the MYOB authority form.

    If usingComplete these steps

    Commonwealth Bank Netbank

    (Commonwealth Bank CommBiz is not supported)

    More than one signatory on your account? You won't be able to apply for bank feeds via Netbank. Instead, print the MYOB authority form as described below.

    Is your account number "masked"? There's an option in Netbank to "mask" account numbers so they display as XXX XXX. To apply for bank feeds via Netbank, you'll need to turn off masking, otherwise you'll need to print the MYOB authority form as described below.

    1. Log in to Netbank.
    2. Click Manage my accounts and then click Set up a transaction feed to MYOB.
    3. Enter your 8-digit code in the MYOB business reference number field and then select one bank account you want to receive bank feeds for.

    4. Submit your application.

    If you want to receive bank feeds for another account, return to the my.MYOB page (see step 2 above), choose to add another bank account, and you'll be given a new 8-digit code to enter into Netbank.

    ASB Fastnet Classic (NZ)
    1. Log in to ASB Fastnet Classic.
    2. Go to My Settings > Accounting Set Up.
    3. Follow the onscreen prompts.
    4. When prompted, enter your 8-digit code and submit your application.
    ASB Fastnet Business (NZ)
    1. Log in to ASB Fastnet Business (you need to be an Administrator of your organisation's FastNet Business account)
    2. Go to Administration > Client tab > Accounting Set Up.
    3. Follow the onscreen prompts.
    4. When prompted, enter your 8-digit code and submit your application.
    ANZ (AU)
    1. Log in to ANZ internet banking.
    2. Go to Accounts > View Accounts.
    3. Follow the onscreen prompts.
    4. When prompted, enter your 8-digit code and submit your application. 
    ANZ (NZ)
    1. Log in to ANZ internet banking.
    2. Go to Your Settings > Connect to an accounting provider.
    3. Follow the onscreen prompts.
    4. When prompted, enter your 8-digit code and submit your application. 

    You're almost done. After the application is authorised, you need to associate an account for the bank feed. Complete the "To associate an account for a bank feed" procedure below.


    If you're not completing the application via your online banking site

  6. On the Print the MYOB authority form page:
    1. Click Print Form. The 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 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 (complete the following procedure).

2. Associate an account for the bank feed

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 now shows all the bank feeds you have set up and their status.
  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:

    Only accounts with the Account Type of Bank or Credit Card can be associated with a bank feed. See Set up accounts for more information on account types.

  8. Click Use Account. The account is associated with the bank feed.
  9. Click OK. The Banking command centre reappears.
3. 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

  FAQs


How do I reprint the bank feed authority form?

Follow these steps to reprint the bank feed authority form.

  1. Start AccountRight.
  2. Go to the Setup  menu > Manage Bank Accounts. The Manage Bank Accounts window appears.
  3. 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. The My Products  page appears, showing your bank feeds information.
  5. Select an account and click Print authority form. The BankLink authority form and cover sheet appear.
  6. Print the form.
How do I check my bank feed application status?

For information about how to check the status of your bank feed application, see Manage bank feeds.