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https://help.myob.com/wiki/x/nQO0Aw
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Once you're set up electronic payments, you can pay your suppliers and employees into their bank accounts. It's a two-stage process that starts in MYOB and ends in your payees' bank accounts.
How it works
- Record your payments. This records the payment in MYOB—no one receives any money yet.
- If you've set up your employees to be paid electronically, you'll record their payments when you do a pay run.
- If you're paying a supplier's bill, select the Electronic payment option to indicate you'll process the actual payment later, electronically.
- Process the recorded payments "electronically' in MYOB. This initiates the actual payments into your suppliers' and employees' bank accounts. Depending on the electronic payment method you've set up, you can either:
- make a direct payment, or
- download a bank file for your bank to process.
Learn more about these two electronic payment methods
- Go to the Banking menu and choose Prepare electronic payments.
- For the Payment type.
In the Account field, choose the account you're paying from. See '1. Enter your business's bank account details' above if you're not sure what this is.
- Enter a Description of transaction. This is the description of the transaction as it'll appear in MYOB, not on any bank statements.
Confirm the Reference number is correct. If not, enter a new number.
To make a direct payment
- Go to the Banking menu and choose Prepare electronic payments. The Prepare Electronic Payments window appears listing all electronic payments waiting to be processed.
- In the Pay From Account field, select the bank account you're paying from.
- If you want to group the electronic payment by payment type—for example, to pay bills only—select a type in the Select Payment by field.
- In the Your Bank Statement Text field, type the text you want to appear on your bank statement.
- In the Bank Processing Date field, enter today's date. Payments authorised before 5pm AEST will be disbursed on the next business day.
- (Optional) Enter a Journal Memo to describe this transaction. By default, this will display Electronic Payment for each new electronic payment.
- Click in the select column (
) next to those payments you want to process. - Click Send Payments. You'll be prompted to check all payment details.
- Click Send payment. The payment portal opens, with the batch payment ready to be authorised.
- If you want to prepare another electronic payment file, repeat from step 3.
- Click Close to exit the Prepare Electronic Payments window.
To download a bank file
Follow the steps below to create the bank file you pay suppliers with. You can create a bank file each time you pay a supplier or you can pay a number of suppliers in a batch.
Only users with the Administrator, Accountant/Bookkeeper, Purchases, Payroll or Bankingroles and permissions can do the following steps.
- Go to the Banking menu and choose Bank file payments. The Record payment and download bank file page appears.
- Choose Pay Bills as the Payment type.
In the Account field, choose the account you're paying from. See '1. Enter your business's bank account details' above if you're not sure what this is.
- Enter a Description of transaction. This is the description of the transaction as it'll appear in MYOB, not on any bank statements.
Confirm the Reference number is correct. If not, enter a new number.
Changing the numbering
If you change the reference number, you’ll change the automatic numbering. For example, if you change the number to EP000081, the next time you create a bank file the new reference number will be EP000082.
In the Date of payment, enter the date you want the payment to be processed.
Future dates
You can future date the Date of payment when preparing your bank file, providing it's within the current financial year. The Date of payment is the date you want the bank to process the payment, but not all banks adhere to future dating bank files. Check with your bank for clarification.
Confirm the Description and change if required. This is the description that'll appear on your bank statement.
- Select the payments to include in the bank file.
- Click Record and download bank file.
- At the confirmation, click Record and download.
- Specify where you want to save the bank file and click Save. Save the file in an easy to find location, like your desktop.
As bank files can be edited outside of MYOB, please store them securely and double-check the data before uploading payments. MYOB is not responsible for any funds transferred by using bank files.
Uploading bank files to your bank
You can now upload the bank file to your internet banking site. Most banks provide an online banking portal through which you can upload bank files. Check the help in your online banking software to learn more, or check with your bank for details. You can also search Google for your bank's instructions, e.g. search for "upload aba file ANZ" or "upload bank file westpac", etc.
Once you've uploaded the bank file to your bank, they will distribute the payments into your suppliers' bank accounts (after your bank's clearance period).
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