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The Banking area is where you manage all the payment transactions in your bank and credit card accounts, like money you spend and receive, and payments to and from suppliers and customers.
You can set up bank feeds, so these payments appear automatically in MYOB Essentials, saving you hours of work, and ensuring the accuracy of your data. Or, you can import electronic bank statements or even enter the transactions manually.
It’s best to set up MYOB Essentials so that you have an MYOB Essentials bank account for each of your real world bank accounts. This includes any business accounts with banks, credit unions and other financial institutions. See Adding, editing and deleting accounts.
There are two ways to bring your bank transactions into MYOB Essentials:
- Automatically, using bank feeds (see Bank feeds)
- Manually, by importing your bank or credit card statements (see Bank statements)
Once your bank transactions have been imported, you can tell MYOB Essentials what to do with them. See Working with bank transactions. You can even partially automate this process, using allocation rules. See Using allocation rules.
You can also record payment transactions not associated with invoices or expenses that you’ve entered in MYOB Essentials. See Spend money, Receive money and Record a transfer between accounts.
Task |
See |
Bring in your bank transactions |
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Receive bank transactions automatically by linking your bank and credit card accounts to MYOB Essentials. |
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Manually import bank and credit card statements into MYOB Essentials (if you haven’t linked your bank accounts). |
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View your bank and credit card statement import history. |
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Work with your imported bank transactions |
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Check the transactions received from your bank and allocate or match them. |
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Use allocation rules to automatically allocate imported bank transactions. |
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Reconcile any MYOB Essentials transactions that remain after you’ve allocated bank transactions. |
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Manage all your bank transactions |
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View your transaction history. |
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Record transactions in MYOB Essentials |
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Enter withdrawals and payments that aren’t associated with your business suppliers. |
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Enter deposits received from sources other than customer sales. |
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Record a transfer made between your bank accounts. |
Show Me How
See how to use the Banking area of LiveAccounts.
<p>
<span style="cursor:pointer" onClick="javascript:window.open('http://help.myob.com.au/showme/links/liveaccounts/banking.htm','blank','width=640,height=498,scrollbars=no,toolbar=no,location=no,status=no,resizable=no')"><img id="img1" src="images/banking.png" alt="Banking" /></span>
</p>
<p><span style="cursor:pointer" onClick="javascript:window.open('http://www.help.myob.co.nz/showme/links/liveaccounts/banking.htm','blank','width=640,height=498,scrollbars=no,toolbar=no,location=no,status=no,resizable=no')"><img id="img1" src="images/banking.png" alt="Banking" /></span></p>
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