Matching bank transactions

Bank feeds works by matching transactions from your bank to those recorded in MYOB. Where possible, MYOB will try to automatically match bank transactions to MYOB transactions. You can also create rules that will tell MYOB what to do if a bank transaction matches predefined criteria.

Where no automatic match occurs but there are possible matches, you can manually do the matching. If no possible matches are found, you can allocate the transaction to one or more MYOB accounts.

Automatic matching

When you receive a bank feed, MYOB tries to automatically match transactions from your feed with existing MYOB transactions.

A bank transaction and MYOB transaction are matched if they have the same date and amount and the MYOB transaction is the correct type (such as Spend Money).

Example: A payment for Metropolitan Electricity of $400 comes out of your bank account on November 16. When this payment appears in your bank feed, it is automatically matched to a Spend Money transaction recorded for $400 recorded on November 16.

Of course, if there are two identical transactions, a match won’t happen (you will be able to review the identical transactions).

Rule matching

You can set up rules to automatically prepare matching transactions in MYOB. The more rules you set up, the more matching is automated and the less transactions you have to find or create.

Rules work by searching for bank transactions based on search criteria you set.

You can set up invoice and bill rules to record invoice and bill payments, and transaction rules for all other receipts and expenses. Learn more about creating rules.

Manual matching

If there isn’t an automatic match, (for example because of a rounding difference in the amounts), or you'd like to match one bank feed transaction to multiple MYOB transactions, click Possible match found to view the possible matches. To help find matching transactions, use the Show, Contact and Search fields. Select one or more transactions to match the bank feed transaction to then click Save. If you're matching to multiple transactions, the Out of balance must be $0.00.

Unmatching a transaction

If a transaction has been wrongly auto-matched or if you've accidentally matched it to the wrong transaction, you can unmatch it. On the Bank transactions page, click the down arrow to open the matched transaction and click Unmatch, then click Unmatch again to confirm.