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Matching transfers between your bank accounts

If you’ve transferred money between two of the bank accounts that you use with MYOB Essentials, MYOB Essentials can identify the two halves of the transaction (withdrawal and deposit) from your imported bank transactions, and match them together, so that you don’t need to enter the transfer manually into MYOB Essentials. For example, if you’ve transferred money from your Cheque account to your Savings account, MYOB Essentials can match both of these bank transactions together.

Note that you can only do this where the transfer is recorded in both bank accounts on the same day. If there is a period of time (for example, 3 days) between initiating and completing the transfer, you’ll need to enter the bank transfer transaction manually into MYOB Essentials (see Record a transfer between accounts) and match both bank transactions to it (see Matching bank transactions).

To match a transfer between bank accounts

        1. In the Bank transactions list, locate either half of the bank transfer transaction (that is, either the withdrawal or deposit transaction).
        2. From the Allocate me dropdown next to the transaction, select Transfer btw accounts. A window appears, displaying any transactions on your other bank accounts that might be the other half of this transaction.
        3. If matching transactions are found:

n If there is only one matching transaction, and it is the correct match for the transfer, click Save.

n If more than one matching transaction has been found in your other bank accounts, select the correct match and click Save.

n If none of the displayed transactions match the transfer, click Cancel.

You can manually create the transfer transaction (see Record a transfer between accounts) and match it (see Matching bank transactions), or you can import the transaction from the other bank account and try again.

        1. If no matching transactions are found:
          1. Click the manually create the transfer link. The Transfer between accounts window appears.
          2. Enter the details of the transfer and click Save. See Record a transfer between accounts.

The Bank transactions page appears.

          1. Depending on the date you entered on the transfer transaction, the transfer will have been automatically matched, or a match will now be available. To match it manually, see Matching bank transactions.